Canonical URL: https://giftcard.news/research-trends/who-powers-virtual-gift-cards-on-shopify/ --- description: Explore 18 Shopify app relationships and six virtual gift-card provider groups, with pricing tables, interactive charts, CSV data and Stripe/Adyen analysis. title: Who Powers Virtual Gift Cards on Shopify? image: https://giftcard.news/images/social/v1/who-powers-virtual-gift-cards-shopify-5869e1e0661ec852dd6110e16a589400.jpg --- 1. [Home](https://giftcard.news/) 2. [Research & Trends](https://giftcard.news/research-trends/) 3. Who Powers Virtual Gift Cards on Shopify? Shopify rewards research [Research & Trends](https://giftcard.news/research-trends/) Analysis # Who Powers Virtual Gift Cards on Shopify? 18 apps, six provider groups, and the economics behind Visa and Mastercard rewards By [Oliver Reed](https://giftcard.news/author/oliver-reed/) Published: September 16, 2026 at 07:15 PM 38 min read Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Fwho-powers-virtual-gift-cards-on-shopify%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=Who%20Powers%20Virtual%20Gift%20Cards%20on%20Shopify%3F "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Fwho-powers-virtual-gift-cards-on-shopify%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial "LinkedIn") [ ](https://wa.me/?text=Who%20Powers%20Virtual%20Gift%20Cards%20on%20Shopify%3F%20https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Fwho-powers-virtual-gift-cards-on-shopify%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial "WhatsApp") ![Editorial illustration of a green storefront opened to reveal card-processing modules and a bank, connected to a navy gift card by a copper ribbon.](https://giftcard.news/images/variants/v1/who-powers-virtual-gift-cards-shopify-w1280.webp) Behind the storefront: apps connect merchants to reward providers and card programs. Conceptual editorial illustration. **In this report** 1. [What a virtual gift card means on Shopify](#article-section-what-a-virtual-gift-card-means-on-shopify) 2. [The 18-app directory and its six provider groups](#article-section-the-18-app-directory-and-its-six-provider-groups) 3. [What a virtual-card program actually costs](#article-section-what-a-virtual-card-program-actually-costs) 4. [The providers behind and beyond the apps](#article-section-the-providers-behind-and-beyond-the-apps) 5. [What happens between reward approval and spending](#article-section-what-happens-between-reward-approval-and-spending) 6. [Unused value and merchant recovery rights](#article-section-unused-value-and-merchant-recovery-rights) 7. [How to measure program value](#article-section-how-to-measure-program-value) 8. [Choosing a provider and reading the evidence](#article-section-choosing-a-provider-and-reading-the-evidence) 5 figures * [F01\. How deeply the 2,760 app listings were reviewed](#article-figure-f01) * [F02\. Balance visibility was a common request](#article-figure-f02) * [F03\. Tremendous appears in 11 of the 18 relationships](#article-figure-f03) * [F04\. A lower subscription can produce a higher software bill](#article-figure-f04) * [F05\. A 3% funding charge scales with the value sent](#article-figure-f05) 20 tables * [T01\. Five products that can appear under a gift-card label](#article-table-t01) * [T02\. The research inventory and review depth](#article-table-t02) * [T03\. What consumers wanted from the gift-card experience](#article-table-t03) * [T04\. Six provider groups in the app inventory](#article-table-t04) * [T05\. Eleven apps with clearer fulfillment pathways](#article-table-t05) * [T06\. Seven additional app and provider connections](#article-table-t06) * [T07\. Who controls each part of the reward](#article-table-t07) * [T08\. The components of program cost](#article-table-t08) * [T09\. Published app software charges](#article-table-t09) * [T10\. Illustrative software fees on $10,000 of qualifying revenue](#article-table-t10) * [T11\. Illustrative funding costs for $50 virtual rewards](#article-table-t11) * [T12\. Virtual-card suppliers beyond an individual app](#article-table-t12) * [T13\. Company-reported scale, with different measurement bases](#article-table-t13) * [T14\. From reward earned to remaining balance](#article-table-t14) * [T15\. Five balances and the evidence needed for recovery](#article-table-t15) * [T16\. Measures that match the program’s purpose](#article-table-t16) * [T17\. Provider questions: product and access](#article-table-t17) * [T18\. Provider questions: economics and remaining funds](#article-table-t18) * [T19\. Provider questions: integration and recipient experience](#article-table-t19) * [T20\. Issuing platforms absent from the identified app relationships](#article-table-t20) [Download data (CSV)](https://giftcard.news/research-trends/who-powers-virtual-gift-cards-on-shopify/data.csv) Chart values, table cells, source references and the report revision date. **Research date: 16 September 2026.** The focus is virtual cards and digital delivery, principally for US-dollar programs. Prices are in USD unless specified. A cashback offer can look like a single feature in a [Shopify](https://giftcard.news/company/shopify/) dashboard. Behind it may sit an affiliate app, a rewards platform, a card program and an issuing bank. Each controls a different part of what the customer eventually receives. The app might calculate a commission or approve a referral. A separate platform can send the reward link and make a virtual [Visa](https://giftcard.news/company/visa/) or [Mastercard](https://giftcard.news/company/mastercard/) available. The issuing bank and program terms then determine where that card works, who can receive it and what happens to money left unspent. That chain is easy to miss in an App Store search. Merchant gift cards, store credit, referral payments and externally issued prepaid rewards all appear under similar labels. They can arrive in similar emails while serving quite different purposes. The research inventory contains **2,760 distinct** [**Shopify**](https://giftcard.news/company/shopify/) **app URLs** from two gift-card searches. It identifies **18 app/provider relationships across six provider groups**. Those relationships offer several ways into the market, but they are not 18 interchangeable US virtual-card programs that any merchant can switch on immediately. **The findings at a glance** **The app, the card and the contract need separate scrutiny.** A provider's virtual-card catalog does not guarantee that the same product is available through its [Shopify](https://giftcard.news/company/shopify/) integration. [**Tremendous**](https://giftcard.news/company/tremendous/) **is the most frequent connection in this directory.** It appears in 11 of the 18 relationships. That measures its presence in this research inventory, not its commercial market share. **The subscription is only the start of the bill.** Reward principal, software usage fees, card charges, funding and operations can use different charging bases. **A sent reward is not necessarily a claimed or spent reward.** The recipient journey and the treatment of remaining funds belong in the purchasing decision from the outset. ## What a virtual gift card means on Shopify _Virtual_ tells you how value is delivered. It leaves open the questions that determine the product: which merchants accept it, how it is funded and which rules apply. ### T01\. Five products that can appear under a gift-card label Scroll left or right to see all columns __T01\. Five products that can appear under a gift-card label__ | Product | What the recipient receives | Where the value can be used | What the merchant is buying | | --------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------- | ---------------------------------------------------------------- | -------------------------------------------------------------------- | | [Shopify](https://giftcard.news/company/shopify/) merchant gift card | A gift-card code for that merchant | The issuing merchant's eligible checkout | A way to sell or issue its own stored value | | [Shopify](https://giftcard.news/company/shopify/) store credit | Credit attached to a customer account | The merchant's supported checkout and account flow | A retention, refund, or compensation mechanism | | Virtual [Visa](https://giftcard.news/company/visa/) or [Mastercard](https://giftcard.news/company/mastercard/) reward | A network-branded prepaid card delivered digitally | Eligible merchants and transactions under the particular program | An externally fulfilled reward or payout | | Reward-choice link | A claim page with selected reward options | Depends on the product subsequently chosen | A distribution experience; the link itself is not necessarily a card | | Affiliate commission paid through a rewards platform | Earned compensation delivered through a selected payout method | Depends on that method | Commission calculation, approval, and payment | [Shopify](https://giftcard.news/company/shopify/)'s native gift cards are available on all [Shopify](https://giftcard.news/company/shopify/) plans and remain merchant-specific. Its native store-credit functionality is also distinct from an external payment-network card. Neither feature, by itself, turns a store into a [Visa](https://giftcard.news/company/visa/) or [Mastercard](https://giftcard.news/company/mastercard/) card issuer. [\[S02\]](#article-source-2), [\[S03\]](#article-source-3). [GiftKart](https://giftcard.news/company/giftkart/) illustrates the difference. It markets cashback through [Shopify](https://giftcard.news/company/shopify/) native store credit, a retention tool whose value stays with the merchant rather than becoming a virtual [Visa](https://giftcard.news/company/visa/) reward. [\[S04\]](#article-source-4). Purchased gift cards and promotional awards also need to be distinguished. [Fondue](https://giftcard.news/company/fondue/)’s cardholder agreement describes its product as a promotional or loyalty award. That classification, and the terms attached to it, matter more than the broad “gift card” label. [\[S05\]](#article-source-5). ### What the inventory covers The research inventory records the exact [Shopify](https://giftcard.news/company/shopify/) App Store searches **“gift cards”** and **“gift card”**, covering 95 and 115 result pages respectively. The combined set is deduplicated by app URL, and its totals and provider groupings were checked against the underlying sheet. The directory brings that inventory together with the linked app listings, integration guides, provider pages and published terms. The data behind the story ### F01\. How deeply the 2,760 app listings were reviewed Three mutually exclusive review-depth categories in the screening log. Distinct app URLs Apps Tap or hover for details. All values are also available in the data table. **Source:** [\[S01\]](#article-source-1) Two searches, not the entire Shopify App Store. These counts describe documentary review, not installed apps or verified card issuance. Explore the data table Scroll left or right to see all columns __F01\. How deeply the 2,760 app listings were reviewed (Apps)__ | Category | Distinct app URLs | | ---------------------------------- | ----------------- | | Search descriptions only | 2,530 Apps | | Full app listing | 147 Apps | | Listing and provider documentation | 83 Apps | ### T02\. The research inventory and review depth Scroll left or right to see all columns __T02\. The research inventory and review depth__ | Evidence stage | Count | What the count establishes | | ---------------------------------------------------------------- | ----- | ------------------------------------------------------------------ | | Search-result pages recorded | 210 | Coverage of the two specified searches | | Distinct app URLs in the combined inventory | 2,760 | The size of this screening inventory | | Apps reviewed from search-result descriptions only | 2,530 | An initial relevance screen | | Apps reviewed through their full listing | 147 | More detailed product information | | Apps reviewed through listings and vendor/provider documentation | 83 | The deepest recorded source review | | Total reviewed beyond the search-result description | 230 | 147 plus 83 | | Included app/provider relationships | 18 | The directory examined below | | Provider groups represented | 6 | Relationships grouped by the named fulfillment provider or program | The inventory places 11 relationships in its more developed US network-card group and includes seven on broader provider evidence. The directory below keeps the underlying distinction visible: an integration can be clear while the exact US/USD virtual product remains an open question. [Genius Referrals](https://giftcard.news/company/genius-referrals/)’ [Tango](https://giftcard.news/company/tango/) route and [White Label Loyalty](https://giftcard.news/company/white-label-loyalty/)’s [Runa](https://giftcard.news/company/runa/) module are two such cases. Other routes rely on a catalog inference: the app can connect to a [Tremendous](https://giftcard.news/company/tremendous/) campaign, and [Tremendous](https://giftcard.news/company/tremendous/) offers virtual [Visa](https://giftcard.news/company/visa/). That combination suggests a possible route, but the merchant still needs to establish that the selected campaign exposes the intended card. No card-issuance transaction is claimed here. The counts describe this screening exercise. They do not measure active installations, paying merchants or market share, and most search matches concern other functions. Rankings and results change, so the two searches are a route into the App Store rather than a census of it. [\[S06\]](#article-source-6), [\[S07\]](#article-source-7). This is a documentary investigation: no app was installed, no reward was issued and no provider was contacted. Product descriptions come from the cited materials. Availability for an individual merchant depends on the selected program and agreement. ### Platform scale and the size of the opportunity [Shopify](https://giftcard.news/company/shopify/) reported **$378.441 billion in gross merchandise volume in 2025**, up 29% from 2024\. Its 2025 annual filing reports more than **21,000 apps** in the App Store at year-end. These figures explain the scale of the platform in which reward providers operate. They do not measure gift-card issuance or virtual-card app adoption. [\[S08\]](#article-source-8), [\[S09\]](#article-source-9). [Statista](https://giftcard.news/company/statista/)'s US gift-card sales table records a **2025 projection of $234 billion**. Although the page was updated in April 2026, its title and notes still identify the recent figures as projections. The series also spans broader gift-card spending, rather than isolating digital rewards issued through [Shopify](https://giftcard.news/company/shopify/). It provides context, not a defensible revenue forecast for this app segment. [\[S10\]](#article-source-10). For a merchant designing a reward, the consumer experience offers a more practical starting point. The table selects five of the eight improvements reported by [Statista](https://giftcard.news/company/statista/) from [Accenture](https://giftcard.news/company/accenture/)’s 2024 US online survey of 1,501 respondents: The data behind the story ### F02\. Balance visibility was a common request Five selected improvements from eight published answers. US online survey, 2024; 1,501 respondents. Share of respondents % of respondents Tap or hover for details. All values are also available in the data table. **Source:** [\[S11\]](#article-source-11) Multiple answers were allowed, so percentages do not add to 100\. Source release: October 2024; exact fieldwork dates not supplied. Not specific to Shopify or virtual network cards. Explore the data table Scroll left or right to see all columns __F02\. Balance visibility was a common request (% of respondents)__ | Category | Share of respondents | | ------------------------- | -------------------- | | Easier balance checks | 36 % of respondents | | Reminders of unused value | 35 % of respondents | | More versatile usage | 32 % of respondents | | Clearer instructions | 23 % of respondents | | Technical support | 23 % of respondents | ### T03\. What consumers wanted from the gift-card experience Scroll left or right to see all columns __T03\. What consumers wanted from the gift-card experience__ | Improvement consumers wanted | Share selecting it | Relevance to a virtual-card program | | -------------------------------- | ------------------ | ------------------------------------------------------------ | | Easier ways to check the balance | 36% | A clear balance destination after the card is claimed | | Reminders about remaining value | 35% | Useful messages after issuance, with an actionable link | | Broader spending flexibility | 32% | Clear explanations of eligible use and restrictions | | Clearer usage instructions | 23% | Guidance on claim, activation, checkout, and remaining funds | | Better technical assistance | 23% | A visible support owner when delivery or payment fails | Multiple answers were permitted; the percentages should not be added. [Statista](https://giftcard.news/company/statista/) attributes the survey to [Accenture](https://giftcard.news/company/accenture/)'s _Holiday Shopping 2024_, with an October 2024 source release, and notes that a specific fieldwork date was not provided. The sample is neither [Shopify](https://giftcard.news/company/shopify/)\-specific nor limited to virtual [Visa](https://giftcard.news/company/visa/)/[Mastercard](https://giftcard.news/company/mastercard/) recipients. [\[S11\]](#article-source-11). The responses draw attention to what happens after delivery: recipients still need to claim the reward, understand it and spend it. They do not establish that a particular [Shopify](https://giftcard.news/company/shopify/) app improves conversion. ## The 18-app directory and its six provider groups One fulfillment platform appears repeatedly in the directory. That concentration is useful when tracing the connections behind the apps; it is not a measure of sales or card volume. The data behind the story ### F03\. Tremendous appears in 11 of the 18 relationships The directory groups each of its 18 selected app relationships by provider or program. App relationships Relationships Tap or hover for details. All values are also available in the data table. **Source:** [\[S01\]](#article-source-1) 11 of 18 equals 61.1% of this directory. This is not market share, payment volume or 18 confirmed US virtual-card configurations. Evidence ranges from current integration guides to provider declarations and legacy documentation. Explore the data table Scroll left or right to see all columns __F03\. Tremendous appears in 11 of the 18 relationships (Relationships)__ | Category | App relationships | | ---------------------- | ----------------- | | Tremendous | 11 Relationships | | Tango / BHN | 3 Relationships | | Runa | 1 Relationships | | Fondue / Postscript | 1 Relationships | | AnyCard | 1 Relationships | | Qwikcilver / Pine Labs | 1 Relationships | ### T04\. Six provider groups in the app inventory Scroll left or right to see all columns __T04\. Six provider groups in the app inventory__ | Provider group | Relationships in this inventory | Position visible in the evidence | Important boundary | | --------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------- | | [Tremendous](https://giftcard.news/company/tremendous/) | 11 | External fulfillment used by several affiliate, referral, and loyalty apps | Three of the 11 show a provider relationship without verified [Visa](https://giftcard.news/company/visa/) availability | | [Tango](https://giftcard.news/company/tango/) / [Blackhawk Network](https://giftcard.news/company/blackhawk-network/) | 3 | Reward-catalog integration, plus legacy and adjacent gifting connections | Product, version, and catalog continuity require separate checks | | [Runa](https://giftcard.news/company/runa/) | 1 | Fulfillment behind [White Label Loyalty](https://giftcard.news/company/white-label-loyalty/)'s separately purchased module | A platform-level [Visa](https://giftcard.news/company/visa/) example does not confirm the merchant's US/USD catalog | | [Fondue](https://giftcard.news/company/fondue/) / [Postscript](https://giftcard.news/company/postscript/) | 1 | An integrated promotional cashback program with a documented [Mastercard](https://giftcard.news/company/mastercard/) award | Its economics and terms differ from a general reward catalog | | [AnyCard](https://giftcard.news/company/anycard/) | 1 | A [Shopify](https://giftcard.news/company/shopify/) merchant-gifting product alongside a separate network-rewards API | The API offering is not automatically included in the [Shopify](https://giftcard.news/company/shopify/) app | | [Qwikcilver](https://giftcard.news/company/qwikcilver/) / [Pine Labs](https://giftcard.news/company/pine-labs/) | 1 | Merchant gift cards and refund credit alongside broader prepaid infrastructure | A current US/USD virtual-card [Shopify](https://giftcard.news/company/shopify/) route was not established | | **Total** | **18** | **Six provider groups** | **Different levels of evidence and different products** | [Tremendous](https://giftcard.news/company/tremendous/) appears in **11 of the 18 relationships, or 61.1% of this selected directory**. Several seemingly different software choices therefore lead to the same fulfillment platform. The inventory supplies no comparable measure of the providers’ revenue, merchants or loaded card value. Follow the chain one step further and the issuing bank becomes visible. [Tremendous](https://giftcard.news/company/tremendous/) identifies itself as a payouts platform and names [Sutton Bank](https://giftcard.news/company/sutton-bank/) as issuer of its US [Visa](https://giftcard.news/company/visa/) prepaid cards. [Fondue](https://giftcard.news/company/fondue/)’s agreement names [Patriot Bank, N.A.](https://giftcard.news/company/patriot-bank/) as issuer and [Postscript](https://giftcard.news/company/postscript/) as administrator. [Visa](https://giftcard.news/company/visa/) and [Mastercard](https://giftcard.news/company/mastercard/) identify the networks; the bank and program still need to be named. [\[S12\]](#article-source-12), [\[S05\]](#article-source-5). ### Reading the app directory The first 11 relationships have more detailed integration or program material behind them. Some guides name a network-card option; others describe a configurable reward catalog. Read the final column alongside the provider name: it identifies what a new merchant still needs to settle before offering the reward. ### T05\. Eleven apps with clearer fulfillment pathways Scroll left or right to see all columns __T05\. Eleven apps with clearer fulfillment pathways__ | App | Provider and principal use | Virtual-card evidence | What must be confirmed | | -------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------ | | **1\.** [\[S13\]](#article-source-13) | [Tremendous](https://giftcard.news/company/tremendous/); affiliate commissions | The setup guide covers campaign configuration and payouts. Virtual [Visa](https://giftcard.news/company/visa/) is inferred from that connection plus [Tremendous](https://giftcard.news/company/tremendous/)’s current catalog. [\[S14\]](#article-source-14) | Enabled virtual [Visa](https://giftcard.news/company/visa/) product, recipient eligibility, and commission approval flow | | **2\.** [\[S15\]](#article-source-15) | [Tremendous](https://giftcard.news/company/tremendous/); advocate rewards and referred-friend incentives | The guide covers prepaid rewards and campaign settings; [Visa](https://giftcard.news/company/visa/) availability depends on the selected catalog. [\[S16\]](#article-source-16) | Exact product and separate rules for advocates and referred friends | | **3\.** [\[S17\]](#article-source-17) | [Tremendous](https://giftcard.news/company/tremendous/); referral and affiliate rewards | The integration explicitly names [Visa](https://giftcard.news/company/visa/) prepaid as a reward option. [\[S18\]](#article-source-18) | Campaign eligibility, country, reward review, and recipient claim | | **4\.** [\[S19\]](#article-source-19) | [Tremendous](https://giftcard.news/company/tremendous/); ambassador and affiliate payouts | The setup guide covers the production API and campaign connection; virtual [Visa](https://giftcard.news/company/visa/) remains a catalog-based inference. [\[S20\]](#article-source-20) | Build-or-higher plan and the applicable payout approval steps | | **5\.** [\[S21\]](#article-source-21) | [Tremendous](https://giftcard.news/company/tremendous/); affiliate commissions | Current instructions explicitly include virtual [Visa](https://giftcard.news/company/visa/) in campaign reward choices. [\[S22\]](#article-source-22) | Eligible paid plan, approved account, selected campaign, and payout configuration | | **6\.** [\[S23\]](#article-source-23) | [Tremendous](https://giftcard.news/company/tremendous/); referral rewards | Its integration page names [Visa](https://giftcard.news/company/visa/) among reward options. [\[S24\]](#article-source-24) | Automatic-reward feature tier, program limits, and eligible virtual product | | **7\.** [\[S25\]](#article-source-25) | [Tremendous](https://giftcard.news/company/tremendous/); affiliate-selected payouts | Documentation describes enabling a [Visa](https://giftcard.news/company/visa/) prepaid category and filtering products by affiliate country. [\[S26\]](#article-source-26) | Product availability, denomination limits, prefunding, and handling of failed requests | | **8\.** [\[S27\]](#article-source-27) | [Tremendous](https://giftcard.news/company/tremendous/); referral-sender rewards | Release notes explicitly include [Visa](https://giftcard.news/company/visa/); current setup uses a campaign ID. [\[S28\]](#article-source-28), [\[S29\]](#article-source-29) | Current campaign product; confirm the currency for the guide’s 5–500 reward setting | | **9\.** [\[S30\]](#article-source-30) | [Tango](https://giftcard.news/company/tango/); [Genius Referrals](https://giftcard.news/company/genius-referrals/)' automated rewards | The guide describes a current [Shopify](https://giftcard.news/company/shopify/)\-to-[Tango](https://giftcard.news/company/tango/) catalog connection, without identifying the individual US virtual [Visa](https://giftcard.news/company/visa/)/[Mastercard](https://giftcard.news/company/mastercard/) item. [\[S31\]](#article-source-31) | Exact catalog item, denomination, country, enabled plan, and governing price | | **10\.** [\[S32\]](#article-source-32) | [Runa](https://giftcard.news/company/runa/); loyalty reward fulfillment | [Runa](https://giftcard.news/company/runa/) fulfills a separate paid module; related documentation gives [Visa](https://giftcard.news/company/visa/) as an example. [\[S33\]](#article-source-33), [\[S34\]](#article-source-34) | The actual US/USD virtual product, brand approval, module price, and initial float | | **11\.** [\[S35\]](#article-source-35) | [Fondue](https://giftcard.news/company/fondue/) / [Postscript](https://giftcard.news/company/postscript/); post-purchase promotional cashback | A [Mastercard](https://giftcard.news/company/mastercard/) award program and issuer are identified in its cardholder agreement. [\[S05\]](#article-source-5), [\[S36\]](#article-source-36) | Current merchant offer, full program charges, claim process, and card restrictions | The next seven connections are worth exploring, but their public materials leave a larger gap between the [Shopify](https://giftcard.news/company/shopify/) app and a current US virtual [Visa](https://giftcard.news/company/visa/) or [Mastercard](https://giftcard.news/company/mastercard/) product. ### T06\. Seven additional app and provider connections Scroll left or right to see all columns __T06\. Seven additional app and provider connections__ | App | Provider connection | What the public evidence supports | What remains unverified | | -------------------------------------- | --------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------- | | **12\.** [\[S37\]](#article-source-37) | [Tremendous](https://giftcard.news/company/tremendous/) | Listing identifies the integration and several reward categories | A current US virtual [Visa](https://giftcard.news/company/visa/) configuration | | **13\.** [\[S38\]](#article-source-38) | [Tremendous](https://giftcard.news/company/tremendous/) | Listing describes referral payments through the provider | [Visa](https://giftcard.news/company/visa/) availability; generic gift-card or card-payout wording is insufficient | | **14\.** [\[S39\]](#article-source-39) | [Tremendous](https://giftcard.news/company/tremendous/) | Customer terms [\[S40\]](#article-source-40) identify the processor; the FAQ [\[S41\]](#article-source-41) lists cash methods and retail vouchers | A virtual [Visa](https://giftcard.news/company/visa/)/[Mastercard](https://giftcard.news/company/mastercard/) choice in the reviewed flow | | **15\.** [\[S42\]](#article-source-42) | [Tango](https://giftcard.news/company/tango/) in legacy documentation | Current rewards marketing [\[S43\]](#article-source-43) names [Visa](https://giftcard.news/company/visa/)/[Mastercard](https://giftcard.news/company/mastercard/); [Tango](https://giftcard.news/company/tango/) USD instructions [\[S44\]](#article-source-44) belong to a support center explicitly labeled legacy versions 1 and 2 | Continuity of that exact route in the current [Shopify](https://giftcard.news/company/shopify/) app and product version | | **16\.** [\[S45\]](#article-source-45) | [Tango](https://giftcard.news/company/tango/) Reward Link on its consumer site | A digital gift-presentation service and a consumer reward-link offering [\[S46\]](#article-source-46) | Network-card issuance or selection through the [Shopify](https://giftcard.news/company/shopify/) integration | | **17\.** [\[S47\]](#article-source-47) | [AnyCard](https://giftcard.news/company/anycard/) | Merchant gift cards in [Shopify](https://giftcard.news/company/shopify/); a separate Rewards API [\[S48\]](#article-source-48) advertises digital [Visa](https://giftcard.news/company/visa/)/[Mastercard](https://giftcard.news/company/mastercard/) | Whether the [Shopify](https://giftcard.news/company/shopify/) merchant can access that API product under the app agreement, particularly for US/USD | | **18\.** [\[S49\]](#article-source-49) | [Qwikcilver](https://giftcard.news/company/qwikcilver/) / [Pine Labs](https://giftcard.news/company/pine-labs/) | Merchant gift cards and refund credit; broader prepaid infrastructure [\[S50\]](#article-source-50) exists separately | A current US/USD virtual network-card product exposed through this [Shopify](https://giftcard.news/company/shopify/) app | An open product question is not proof that the provider cannot serve the use case. It is a reason to request the exact current integration, catalog item and governing terms. ### What the app controls, and what the provider controls Referral and affiliate apps account for many of the clearest connections. They manage **who earned a reward**. The external platform handles **how the recipient receives it**. That division explains both the appeal of an integration and the limits of what the app alone can promise. ### T07\. Who controls each part of the reward Scroll left or right to see all columns __T07\. Who controls each part of the reward__ | Layer | Typical responsibility | Evidence to request | | ------------------------------------------------------------------ | --------------------------------------------------------------------- | ------------------------------------------------------ | | [Shopify](https://giftcard.news/company/shopify/) merchant and app | Qualifying event, attribution, reward amount, review period, approval | Exact trigger and adjustment rules | | Reward provider | Catalog, prefunding, delivery, claim experience, reward status | Product catalog and delivery/status documentation | | Card program and issuing bank | Card issuance, restrictions, authorizations, disputes, card balance | Named issuer and current cardholder agreement | | Recipient experience | Claim, access to credentials, balance lookup, eligible spending | A demonstration of the actual selected virtual product | The trigger deserves particular attention. [Snowball](https://giftcard.news/company/social-snowball/) and [BUZZ](https://giftcard.news/company/buzzbassador/) principally describe commissions or rewards owed to program members; [Friendbuy](https://giftcard.news/company/friendbuy/) also describes referred-friend incentives after a qualifying purchase. A merchant planning to reward **every eligible buyer** needs that specific workflow, including its approval and adjustment rules. [\[S51\]](#article-source-51), [\[S16\]](#article-source-16). Automation can stop short of authorizing the money. [BUZZ](https://giftcard.news/company/buzzbassador/)’s payout guidance requires approval, while [GOLDEN RATIO](https://giftcard.news/company/golden-ratio/) describes a request process with product filtering and retries when funding is insufficient. Both reduce work, but they give the merchant different controls. [\[S52\]](#article-source-52), [\[S26\]](#article-source-26). For a rewards provider, these integrations offer distribution through software whose main job is attribution or loyalty. That is an inference from the visible connections, not a claim about any company’s unpublished expansion plans. ## What a virtual-card program actually costs Start with the full cash outlay, then compare the components on the same basis. **Program cash outlay = reward principal + app charges + provider/card charges + funding charges + implementation and operating costs.** Reward principal is the value allocated to recipients. If a $50 virtual reward pays an affiliate’s $50 commission, the same amount should not appear twice in the cost model. A software fee charged as a percentage of attributed revenue is an additional expense with a separate charging base. ### T08\. The components of program cost Scroll left or right to see all columns __T08\. The components of program cost__ | Cost component | Typical charging basis | Common comparison error | | ----------------- | -------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------- | | Reward principal | Number of rewards × face value | Treating funded value as the provider's service revenue | | App subscription | Month, billing cycle, or annual contract | Treating free installation as free ongoing use | | App usage fee | Attributed sales, eligible referrals, advocates, or program activity | Assuming the fee is a percentage of card value | | Provider/card fee | Specific product, issuance, fulfillment, or negotiated schedule | Applying a retail-voucher fee to a [Visa](https://giftcard.news/company/visa/)/[Mastercard](https://giftcard.news/company/mastercard/) product | | Funding fee | How the merchant funds the reward account | Ignoring a percentage charge on a large funding amount | | Operations | Setup, integration, support, reconciliation, exceptions | Comparing headline subscriptions as complete program costs | [Tremendous](https://giftcard.news/company/tremendous/)'s current public schedule lists platform/API access at $0, prepaid [Visa](https://giftcard.news/company/visa/) rewards at face value, and US bank funding at $0\. Credit-card funding carries a 3% fee. Its page also advertises potential volume discounts at $200,000 or more per year; these are not guaranteed discounts on every virtual-card product. [\[S53\]](#article-source-53). These are software prices; the merchant must fund the rewards separately. “Monthly” follows the advertised plan period. [Shopify](https://giftcard.news/company/shopify/) commonly bills recurring and usage charges every 30 days, and negotiated agreements may use different terms. ### T09\. Published app software charges Scroll left or right to see all columns __T09\. Published app software charges__ | App | Published software charges | Detail that changes the comparison | | ----------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------- | | [Snowball](https://giftcard.news/company/social-snowball/) [\[S54\]](#article-source-54) | Snow Day starts at $249 + 3% of affiliate revenue; Blizzard starts at $899 with no platform usage commission | Starting prices; the higher plan is tailored | | [Friendbuy](https://giftcard.news/company/friendbuy/) [\[S15\]](#article-source-15) | Quote required; monthly platform charge under an annual agreement | Free installation does not disclose the subscription | | [ReferralCandy](https://giftcard.news/company/referralcandy/) [\[S55\]](#article-source-55) | $39 + 10.5%; $79 + 3.5%; $249 + 1.5%; $799 + 0.25% | Percentages apply to eligible referral sales, not card principal | | [BUZZ](https://giftcard.news/company/buzzbassador/) [\[S56\]](#article-source-56) | Build $169 + 3% of affiliate revenue; Plus $549 without revenue share | [Tremendous](https://giftcard.news/company/tremendous/) requires Build or higher; Launch is not the relevant entry plan | | [Yuko](https://giftcard.news/company/yuko/) [\[S21\]](#article-source-21) | Basic $12 + 2%; Starter $45 + 1%; Growth $100 + 0% | Revenue generated through [Yuko](https://giftcard.news/company/yuko/) is the percentage base | | [Referral Rocket](https://giftcard.news/company/referral-rocket/) [\[S57\]](#article-source-57) | Basic $19; Pro $39; Enterprise $99 on monthly billing | Program caps differ; automatic rewards are a Pro-or-higher feature. [\[S23\]](#article-source-23) | | [GOLDEN RATIO](https://giftcard.news/company/golden-ratio/) [\[S25\]](#article-source-25) | Arc has no fixed subscription but progressive revenue fees; Spiral $149 plus fees; Helix $349 plus fees | Free installation can still generate substantial usage charges | | [Lootly](https://giftcard.news/company/lootly/) [\[S58\]](#article-source-58) | Growth $99; Pro $299; Advanced $699 monthly | Annual contracts have different effective monthly costs. [\[S27\]](#article-source-27) | | [Genius Referrals](https://giftcard.news/company/genius-referrals/) / [360º](https://giftcard.news/company/genius-referrals/) [\[S30\]](#article-source-30) | Listing shows $39/$99/$199/$399; Growth includes automated gift-card payouts | New-advocate limits and overage charges apply. Vendor pricing differs; request the governing quote | | [White Label Loyalty](https://giftcard.news/company/white-label-loyalty/) [\[S32\]](#article-source-32) | Essentials $1,440 monthly or $14,400 annually | Reward Fulfilment is an additional, separately priced module | | [Fondue](https://giftcard.news/company/fondue/) [\[S35\]](#article-source-35) | $159 monthly Early Adopter plan | External charges may apply; complete virtual-card program fees are not publicly itemized | [GOLDEN RATIO](https://giftcard.news/company/golden-ratio/)’s listing also advertises permanent free pricing for beta merchants who provide feedback and an honest review. The comparison uses its published Arc, Spiral and Helix schedules; eligibility for the beta offer needs confirmation. [\[S25\]](#article-source-25). [BUZZ](https://giftcard.news/company/buzzbassador/) makes the entry point explicit: [Tremendous](https://giftcard.news/company/tremendous/) is available on Build, Plus and Enterprise. Using the Launch plan’s headline price to cost a [Visa](https://giftcard.news/company/visa/)\-reward workflow would miss that requirement. [\[S59\]](#article-source-59). [ReferralCandy](https://giftcard.news/company/referralcandy/) shows why the percentage base matters as much as the percentage. Its success fee covers the first three detected referred purchases by a new referred customer, using the subtotal after discounts and before tax and shipping. Later purchases are excluded. Comparing it with a fee applied to a different pool of revenue requires more than two headline rates. [\[S60\]](#article-source-60). The next table is **illustrative arithmetic**, not a record of merchant spending. Assume $10,000 qualifies under each plan’s own revenue definition. It excludes reward principal, recipient commissions, funding, the [Shopify](https://giftcard.news/company/shopify/) subscription, taxes and setup. The plans also differ in features and attribution rules. The data behind the story ### F04\. A lower subscription can produce a higher software bill Calculated at $10,000 qualifying under each plan’s own revenue definition, using published monthly schedules. Illustrative software charge USD Tap or hover for details. All values are also available in the data table. **Sources:** [\[S21\]](#article-source-21); [\[S55\]](#article-source-55); [\[S56\]](#article-source-56); [\[S25\]](#article-source-25) Illustrations, not equivalent packages or actual invoices. Excludes reward principal, recipient commissions, funding, Shopify subscription, taxes and setup. Golden Ratio uses progressive brackets and published standard schedules; its separate beta offer may change eligible merchants’ charges. Explore the data table Scroll left or right to see all columns __F04\. A lower subscription can produce a higher software bill (USD)__ | Category | Illustrative software charge | | ------------------- | ---------------------------- | | Yuko Basic | 212.00 USD | | Yuko Starter | 145.00 USD | | Yuko Growth | 100.00 USD | | ReferralCandy Basic | 1,089.00 USD | | ReferralCandy Grow | 429.00 USD | | ReferralCandy Scale | 399.00 USD | | BUZZ Build | 469.00 USD | | BUZZ Plus | 549.00 USD | | Golden Ratio Arc | 450.00 USD | | Golden Ratio Spiral | 411.50 USD | | Golden Ratio Helix | 536.50 USD | ### T10\. Illustrative software fees on $10,000 of qualifying revenue Scroll left or right to see all columns __T10\. Illustrative software fees on $10,000 of qualifying revenue__ | Plan | Calculation | Software charge | | ------------------------------------------------------------------- | -------------------------------------------------- | --------------- | | [Yuko](https://giftcard.news/company/yuko/) Basic | $12 + 2% × $10,000 | $212.00 | | [Yuko](https://giftcard.news/company/yuko/) Starter | $45 + 1% × $10,000 | $145.00 | | [Yuko](https://giftcard.news/company/yuko/) Growth | $100 | $100.00 | | [ReferralCandy](https://giftcard.news/company/referralcandy/) Basic | $39 + 10.5% × $10,000 | $1,089.00 | | [ReferralCandy](https://giftcard.news/company/referralcandy/) Grow | $79 + 3.5% × $10,000 | $429.00 | | [ReferralCandy](https://giftcard.news/company/referralcandy/) Scale | $249 + 1.5% × $10,000 | $399.00 | | [BUZZ](https://giftcard.news/company/buzzbassador/) Build | $169 + 3% × $10,000 | $469.00 | | [BUZZ](https://giftcard.news/company/buzzbassador/) Plus | $549 | $549.00 | | [GOLDEN RATIO](https://giftcard.news/company/golden-ratio/) Arc | 6% of first $5,000 + 3% of next $5,000 | $450.00 | | [GOLDEN RATIO](https://giftcard.news/company/golden-ratio/) Spiral | $149 + 3.5% of first $5,000 + 1.75% of next $5,000 | $411.50 | | [GOLDEN RATIO](https://giftcard.news/company/golden-ratio/) Helix | $349 + 2.5% of first $5,000 + 1.25% of next $5,000 | $536.50 | The calculations use the schedules linked above. They show how a lower subscription can produce a higher invoice once usage charges are included. They do not identify the most profitable app or the best fit for an individual merchant. Now hold the reward itself constant at $50\. [Tremendous](https://giftcard.news/company/tremendous/)’s published funding schedule produces the following outlay before app and operating costs: The data behind the story ### F05\. A 3% funding charge scales with the value sent Reward principal of $5,000, $50,000 and $500,000, respectively. Only the funding fee is plotted. US bank-funding feeCredit-card funding fee USD Tap or hover for details. Select a series above to show or hide it. **Source:** [\[S53\]](#article-source-53) Arithmetic at Tremendous’s published 0% US bank and 3% credit-card funding rates. App fees, operations and the principal are excluded from the bars. The scenarios do not imply approval, plan capacity or a negotiated quote. Explore the data table Scroll left or right to see all columns __F05\. A 3% funding charge scales with the value sent (USD)__ | Category | US bank-funding fee | Credit-card funding fee | | -------------------- | ------------------- | ----------------------- | | 100 rewards × $50 | 0 USD | 150 USD | | 1,000 rewards × $50 | 0 USD | 1,500 USD | | 10,000 rewards × $50 | 0 USD | 15,000 USD | ### T11\. Illustrative funding costs for $50 virtual rewards Scroll left or right to see all columns __T11\. Illustrative funding costs for $50 virtual rewards__ | Virtual rewards | Face value each | Reward principal | Bank-funding fee | Credit-funding fee at 3% | Principal plus credit-funding fee | | --------------- | --------------- | ---------------- | ---------------- | ------------------------ | --------------------------------- | | 100 | $50 | $5,000 | $0 | $150 | $5,150 | | 1,000 | $50 | $50,000 | $0 | $1,500 | $51,500 | | 10,000 | $50 | $500,000 | $0 | $15,000 | $515,000 | These are scenario calculations from [Tremendous](https://giftcard.news/company/tremendous/)'s published funding rates [\[S53\]](#article-source-53), not a negotiated quote or a claim that every app can handle those volumes under its entry plan. Reward count does not determine affiliate revenue, new advocates, or campaign limits. At a smaller denomination, 1,000 rewards of $10 contain $10,000 of principal. The same 3% funding assumption adds $300\. A provider charging a different rate or using a different funding method needs its own calculation. ### Where public prices need a closer look When two public pages quote different prices, the gap itself needs explaining. [**Genius Referrals**](https://giftcard.news/company/genius-referrals/) **illustrates the problem.** Its [Shopify](https://giftcard.news/company/shopify/) listing presents Growth at $99 monthly. Its current vendor page presents a different plan structure, including Silver at $219 monthly, with different allowances and payout features. The two sources should not be silently treated as equivalent packages. The appropriate request is a written quote naming the Shopify integration, virtual-card fulfillment, advocate allowances, payout charges, and the plan that governs them. [\[S30\]](#article-source-30), [\[S61\]](#article-source-61). [**GetAmbassador**](https://giftcard.news/company/getambassador/) **presents another mismatch.** The current [Shopify](https://giftcard.news/company/shopify/) listing displays $12,000 per month, while the linked enterprise pricing page describes a scoped commercial offer. That displayed number should neither be relabeled as an annual price nor assumed to be the price of a particular virtual-card program. [\[S42\]](#article-source-42), [\[S62\]](#article-source-62). [**White Label Loyalty**](https://giftcard.news/company/white-label-loyalty/) **separates the loyalty engine from fulfillment.** Its $14,400 annual price is equivalent to $1,200 per month across the contract, not a $1,200 month-to-month offer. Its [Runa](https://giftcard.news/company/runa/)\-backed Reward Fulfilment module is separately purchased and requires a forecast and initial float. [\[S32\]](#article-source-32), [\[S33\]](#article-source-33). [**AnyCard**](https://giftcard.news/company/anycard/) **and** [**Qwikcilver**](https://giftcard.news/company/qwikcilver/) **illustrate a product mismatch.** A [Shopify](https://giftcard.news/company/shopify/) price for merchant gift cards does not establish the price of a separate [Visa](https://giftcard.news/company/visa/)/[Mastercard](https://giftcard.news/company/mastercard/) program. [Qwikcilver](https://giftcard.news/company/qwikcilver/)'s listing also uses rupee-denominated allowances and local-billing wording alongside Shopify's USD presentation. Those figures are unsuitable as an unqualified US virtual-card quote. [\[S63\]](#article-source-63), [\[S48\]](#article-source-48), [\[S49\]](#article-source-49). ## The providers behind and beyond the apps The App Store directory is only one route to a supplier. Providers also sell through APIs, enterprise agreements and partners that a gift-card search may not surface. For a direct relationship, start with the operating model: who buys and funds the rewards, who serves the merchants, and who supports recipients. A provider’s published offering can inform that discussion; approval and price for the proposed program require its own agreement. ### T12\. Virtual-card suppliers beyond an individual app Scroll left or right to see all columns __T12\. Virtual-card suppliers beyond an individual app__ | Provider | Documented position | Virtual-card and integration evidence | Main commercial question | | ------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------- | | [**Tremendous**](https://giftcard.news/company/tremendous/) | Business rewards and payouts platform with multiple documented app connections | Virtual [Visa](https://giftcard.news/company/visa/), API, configurable rewards, digital delivery. [\[S12\]](#article-source-12) | Which selected [Visa](https://giftcard.news/company/visa/) product and distribution model will be approved for each merchant? | | [**BHN**](https://giftcard.news/company/blackhawk-network/) **/** [**Tango**](https://giftcard.news/company/tango/) | A large rewards distribution group with a dedicated digital fulfillment platform | Digital [Visa](https://giftcard.news/company/visa/)/[Mastercard](https://giftcard.news/company/mastercard/) and programmable reward delivery. [\[S64\]](#article-source-64), [\[S65\]](#article-source-65) | Which group entity, API, product catalog, and contract should serve the program? | | [**Runa**](https://giftcard.news/company/runa/) | API-oriented payouts and prepaid program platform | Published virtual open-loop program terms and separate reward-card products. [\[S66\]](#article-source-66) | Which nonreloadable virtual product, issuer, fee schedule, and spending geography apply? | | [**Giftbit**](https://giftcard.news/company/giftbit/) | Rewards distribution platform with relatively explicit public entry pricing | US [Visa](https://giftcard.news/company/visa/) and USD [Mastercard](https://giftcard.news/company/mastercard/) products; REST API and digital reward delivery. [\[S67\]](#article-source-67), [\[S68\]](#article-source-68) | Which product and partner distribution model are approved, and which pricing exceptions apply? | | [**PerfectGift**](https://giftcard.news/company/perfectgift/) | Corporate reward supplier with a branded recipient experience | Digital [Visa](https://giftcard.news/company/visa/)/[Mastercard](https://giftcard.news/company/mastercard/), API ordering, and provider-hosted white-label redemption. [\[S69\]](#article-source-69), [\[S70\]](#article-source-70) | What are the exact card fees, branding permissions, and account structure? | | [**InComm InCentives**](https://giftcard.news/company/incomm-payments/) | Incentives and rewards operation within a broader payments group | Virtual [Visa](https://giftcard.news/company/visa/)/[Mastercard](https://giftcard.news/company/mastercard/) programs and API fulfillment for a client's own front end. [\[S71\]](#article-source-71), [\[S72\]](#article-source-72) | Is the arrangement a corporate program, reseller relationship, or distribution partnership? | | [**Onbe**](https://giftcard.news/company/onbe/) | Managed payout platform with embedded partner options | Virtual prepaid, integration tools, and a white-label partner model. [\[S73\]](#article-source-73), [\[S74\]](#article-source-74) | Which exact US network-card program, issuing bank, and terms would be proposed? | [Giftbit](https://giftcard.news/company/giftbit/), [PerfectGift](https://giftcard.news/company/perfectgift/), [InComm](https://giftcard.news/company/incomm-payments/), and [Onbe](https://giftcard.news/company/onbe/) are included here as additional suppliers for consideration. This article does not claim that each has a verified connection to one of the 18 [Shopify](https://giftcard.news/company/shopify/) apps above. [Onbe](https://giftcard.news/company/onbe/)'s public material establishes virtual prepaid and embedded payouts; the exact proposed US [Visa](https://giftcard.news/company/visa/)/[Mastercard](https://giftcard.news/company/mastercard/) and issuer combination still requires product documentation. ### BHN and Tango: consolidation changes the supplier map [Tango](https://giftcard.news/company/tango/) says [Blackhawk Network](https://giftcard.news/company/blackhawk-network/) acquired it in **May 2024**. [BHN](https://giftcard.news/company/blackhawk-network/) announced completion of its [Tango](https://giftcard.news/company/tango/) integration in March 2025\. They should therefore be treated as one ownership group when assessing supplier concentration, even where their product brands and integration routes differ. [\[S75\]](#article-source-75), [\[S76\]](#article-source-76). For a prospective partner, the useful question is which product team and contractual route fits the intended workflow. A [Tango](https://giftcard.news/company/tango/) catalog integration already embedded in an app may be a different commercial proposition from a direct [BHN](https://giftcard.news/company/blackhawk-network/) digital-card program. Group ownership does not make the two offers automatically identical. ### Tremendous: the recurring connection behind the apps [Tremendous](https://giftcard.news/company/tremendous/)’s recurring role makes sense in this app set. Referral and loyalty developers need to calculate rewards, while an external platform can handle the catalog, account funding and delivery. Several guides describe the account, campaign and payout settings that join those jobs together. For a merchant already using one of those apps, the connection can provide a practical starting point. It also creates a shared dependency across apps: switching the marketing software may leave the underlying fulfillment provider unchanged. The inventory explains that distribution pattern. It cannot rank uptime, approval rates or merchant satisfaction, and it says nothing about private terms available to a new distribution partner. ### Runa: the commercial form matters as much as the API [Runa](https://giftcard.news/company/runa/)'s prepaid terms, updated 27 February 2026, tie service and issuance fees to the Commercial Form and pass through applicable issuing-bank fees. They describe funding through a buyer float and a separate issuing bank. The terms also permit a pause in further issuance if, unless otherwise agreed, at least 30% of monthly card transaction value is spent outside the United States, including at online merchants not registered as US merchants. [\[S66\]](#article-source-66). For an ecommerce program, that geographic clause is commercially significant. A dollar-denominated virtual card and a US-oriented program do not necessarily permit an unrestricted international spending pattern. The approved product, recipient countries, merchant locations, and contractual exceptions should be discussed together. Separately, [White Label Loyalty](https://giftcard.news/company/white-label-loyalty/)'s use of [Runa](https://giftcard.news/company/runa/) does not prove that all [Runa](https://giftcard.news/company/runa/) products are available through its module. A direct Runa agreement and a Runa-powered loyalty integration can have different catalogs and economics. ### Giftbit: the product matters to the price [Giftbit](https://giftcard.news/company/giftbit/)'s catalog explicitly separates US [Visa](https://giftcard.news/company/visa/) from USD [Mastercard](https://giftcard.news/company/mastercard/) products. Published denomination ranges begin at $0.01 for certain US Visa offerings and $1 for USD [Mastercard](https://giftcard.news/company/mastercard/), with products up to $2,000\. Those ranges identify possible products; they are not a promise of approval for every merchant or use case. [\[S67\]](#article-source-67). [Giftbit](https://giftcard.news/company/giftbit/) advertises no platform subscription or minimum-usage fee and lists a **2.9% credit-card funding fee**. Selected prepaid products carry additional fees. Its issuer disclosures identify different banks for different offerings. A program should therefore be quoted by product rather than by the word “[Giftbit](https://giftcard.news/company/giftbit/)” alone. [\[S77\]](#article-source-77). Its developer guidance distinguishes approved rewards use cases from restricted activities such as consumer resale or peer-to-peer gifting. A [Shopify](https://giftcard.news/company/shopify/) platform awarding incentives across multiple independent merchants should explain that operating model during onboarding instead of assuming a general API account covers it. [\[S68\]](#article-source-68). ### PerfectGift: branding the redemption experience [PerfectGift](https://giftcard.news/company/perfectgift/) offers a provider-hosted digital redemption experience for [Visa](https://giftcard.news/company/visa/) and [Mastercard](https://giftcard.news/company/mastercard/) programs with partner branding. The detail to examine is how far that branding extends: the screens, domain, data access and support interactions may matter as much as the email that first delivers the reward. [\[S70\]](#article-source-70). Its corporate pricing page lists **3% credit-card funding**, while [Visa](https://giftcard.news/company/visa/)/[Mastercard](https://giftcard.news/company/mastercard/) fees depend on quantity, expiration, and format. The page identifies [Sutton Bank](https://giftcard.news/company/sutton-bank/) in the relevant program disclosures. A free corporate account should therefore not be mistaken for zero-cost card issuance. [\[S78\]](#article-source-78). Review the recipient demonstration and the fee schedule together. A well-presented redemption journey and economical card issuance are separate requirements. ### InComm: distribution infrastructure and client-controlled presentation [InComm InCentives](https://giftcard.news/company/incomm-payments/) describes an API through which a client can build its own front end while [InComm](https://giftcard.news/company/incomm-payments/) handles fulfillment. Its company disclosures identify [Visa](https://giftcard.news/company/visa/) and [Mastercard](https://giftcard.news/company/mastercard/) virtual accounts backed by particular issuing-bank programs. This supports a conversation about a direct integration even when no suitable app connection appears in the screening inventory. [\[S71\]](#article-source-71), [\[S72\]](#article-source-72). The unresolved questions are the actual catalog made available to the partner, whether the business model is treated as a corporate reward program or distribution arrangement, and the complete commercial schedule. The cited 2025 product announcement is evidence of program relationships; its historical promotional offer is not current pricing. ### Onbe: managed operations as part of the proposition [Onbe](https://giftcard.news/company/onbe/) offers no-code, low-code, and API integration approaches, alongside a white-label partner model and program-management services. This positions it for discussions where implementation, reconciliation, and recipient operations matter alongside card delivery. [\[S79\]](#article-source-79), [\[S74\]](#article-source-74), [\[S80\]](#article-source-80). Its broader payout menu should not obscure the product question. A transfer to someone's existing debit card differs from issuing a new virtual reward card. The commercial proposal should name the intended US virtual program, network, issuing bank, reloadability, recipient verification, and applicable fees. Those specifics were not established for a proposed [Shopify](https://giftcard.news/company/shopify/) program in the public pages reviewed. ### T13\. Company-reported scale, with different measurement bases Scroll left or right to see all columns __T13\. Company-reported scale, with different measurement bases__ | Company | Publicly reported scale | What the metric does not establish | | ----------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------- | | [BHN](https://giftcard.news/company/blackhawk-network/) [\[S81\]](#article-source-81) | $30 billion in annual load value and more than $4 billion in rewards fulfilled annually | US virtual-card share or [Shopify](https://giftcard.news/company/shopify/)\-originated issuance | | [InComm Payments](https://giftcard.news/company/incomm-payments/) [\[S82\]](#article-source-82) | More than one billion cards managed annually across its wider business | Newly issued virtual reward cards or this app segment's volume | | [Tremendous](https://giftcard.news/company/tremendous/) [\[S83\]](#article-source-83) | More than 90 million payouts sent, $2 billion in funds delivered, and 25,000 companies | Annual card volume, unique recipients, or current active [Shopify](https://giftcard.news/company/shopify/) merchants | These figures come from the companies’ websites and retain their different scopes. The annual metrics do not identify a measurement year; [Tremendous](https://giftcard.news/company/tremendous/)’s figures have no stated annual period. Adding them together, ranking them as equivalent volumes or dividing them by a general gift-card market estimate would produce a misleading comparison. The research materials contain no comparable provider-share dataset for **US virtual rewards originating in** [**Shopify**](https://giftcard.news/company/shopify/) **programs**. A useful volume request would specify the same twelve-month period, geography, product class and distribution channel, with both card count and loaded face value. ## What happens between reward approval and spending The word “sent” can conceal several unfinished steps. A reward may be earned, approved and delivered before a recipient claims it, obtains a card or makes a purchase. Each state belongs in the reporting. ### T14\. From reward earned to remaining balance Scroll left or right to see all columns __T14\. From reward earned to remaining balance__ | State | What has happened | What has not necessarily happened | | ------------------------ | ------------------------------------------ | ------------------------------------------------------------------ | | Reward earned | An app records an eligible action | Approval or funding | | Reward approved | The merchant or program authorizes it | Delivery | | Reward sent | A message or link is delivered | Recipient claim or card issuance | | Reward claimed | The recipient selects or accepts an option | A successful purchase | | Card available | The virtual card can be accessed | Activation of every optional feature or full acceptance everywhere | | Value spent | One or more transactions settle | Complete exhaustion of the card | | Residual balance remains | Some issued value is unspent | A merchant right to recover it | [ReferralCandy](https://giftcard.news/company/referralcandy/) provides a useful example: its [Tremendous](https://giftcard.news/company/tremendous/) integration describes a successful reward status as email delivery. That confirms delivery, not claim or spending. A dashboard that calls every delivered reward “redeemed” would overstate recipient use. [\[S18\]](#article-source-18). A useful provider demonstration follows one recipient from message to purchase: accepting or choosing the reward, accessing credentials, finding the balance, making an eligible online payment and handling a remainder or failed attempt. These are steps to request in a demonstration; this investigation did not issue or spend a card. A provider's claim page may also have different requirements from an app's signup form. [Tango](https://giftcard.news/company/tango/)'s published prepaid page says recipient information can be required and that additional identity information may be requested on first redemption. Digital delivery should therefore not be used as shorthand for anonymous or verification-free use. [\[S84\]](#article-source-84). Likewise, a general mobile-wallet feature does not settle the chosen product's wallet eligibility. A [Shopify](https://giftcard.news/company/shopify/) merchant gift-card pass is different from provisioning a network card for payment. The provider should demonstrate the exact virtual product and clarify any optional setup rather than rely on an undifferentiated wallet logo. [\[S85\]](#article-source-85). ## Unused value and merchant recovery rights When money remains unused, the first question is where it sits: in the merchant’s funding account, behind an unclaimed reward link, or on a card already issued to a recipient. Those balances can have different owners and recovery rules. ### T15\. Five balances and the evidence needed for recovery Scroll left or right to see all columns __T15\. Five balances and the evidence needed for recovery__ | Money or status | Meaning | Evidence required before treating it as recoverable | | ---------------------------- | ------------------------------------------------------------------ | --------------------------------------------------------------- | | Unused corporate prefunding | Money still held in the business's funding account | Funding agreement and withdrawal/refund rules | | Unclaimed reward | An offer or reward link not yet converted into the selected payout | Cancellation eligibility, time limits, fees, and approval rules | | Issued-card residual balance | Money remains after the virtual card has been issued | The program agreement's treatment of remaining funds | | Expired promotional value | The recipient's spending period has ended | The specific contract's allocation of the expired value | | Provider revenue share | An agreed commercial payment to a partner | A defined revenue base, settlement schedule, and exclusions | Unredeemed value may eventually contribute to breakage. **Whether the merchant can recover money left on an issued card** is a separate contractual question. The presence of an unused balance does not establish the merchant’s entitlement. [Tremendous](https://giftcard.news/company/tremendous/) allows cancellation of eligible unredeemed rewards: directly within 30 minutes, with reviewed requests available through the dashboard for up to seven days, and support involvement thereafter. Once the recipient chooses a payout option, its ordinary order-cancellation process does not refund that redeemed reward. This separates an unclaimed offer from an issued card with money left on it. [\[S86\]](#article-source-86). [Tango](https://giftcard.news/company/tango/)'s policy limits cancellation to specified eligible products and circumstances, such as delivery errors or fraud. Its self-service window for eligible, wholly unredeemed digital Tango Choice rewards is five days; later requests involve support; the policy specifies a cancellation or restocking fee for cancellations completed through support. This is not a general right to reclaim any unused virtual-card balance. [\[S87\]](#article-source-87). [Giftbit](https://giftcard.news/company/giftbit/) publishes a default return of **25% of an unclaimed Promotional reward’s value** to the sender’s account after the sender-set claim deadline. Standard rewards have no claim deadline. This concerns an unclaimed reward offer, not money left on a card that has already been issued. [\[S77\]](#article-source-77). [Fondue](https://giftcard.news/company/fondue/)'s marketing discusses revenue retained when shoppers do not claim cashback. Its cardholder agreement separately says remaining promotional-card funds become unavailable to the cardholder after expiration. Neither statement, by itself, supplies the merchant's percentage, settlement timing, or entitlement to funds left on an issued card. [\[S35\]](#article-source-35), [\[S05\]](#article-source-5). The material reviewed here does not establish an automatic merchant right to all unused issued-card balances. A recovery or revenue-sharing offer needs to identify the relevant stage, the entitled party, the calculation and the settlement date. An undisclosed fee or policy remains an unknown in the commercial model. ## How to measure program value A reward’s value depends on the job it is meant to do: acquisition, referrals, affiliate compensation or customer service. Network-card rewards give recipients spending flexibility beyond the originating store. Merchants therefore need an objective that does not depend on all the funded value returning as another purchase. ### T16\. Measures that match the program’s purpose Scroll left or right to see all columns __T16\. Measures that match the program’s purpose__ | Objective | Useful measure | Misleading shortcut | | ----------------------------------- | --------------------------------------------------------------------------- | ---------------------------------------------------------- | | Acquire customers through referrals | Incremental contribution per eligible referred customer | Treating all attributed sales as newly created demand | | Pay affiliates | Approved commissions delivered accurately and on time, including exceptions | Counting reward emails as completed spending | | Encourage eligible purchases | Treatment-versus-holdout contribution after rewards and fees | Comparing only claimants with non-claimants | | Improve recipient experience | Claim completion, failed delivery, failed payment, and support contacts | Assuming a digital message means a usable card | | Manage costs | Total program outlay and cost per successful reward | Comparing monthly subscriptions alone | | Understand remaining value | Separate unclaimed offers from issued-card balances | Treating every unused dollar as recoverable merchant money | For a controlled evaluation, define the eligible population before offering the incentive. Compare equivalent groups over the same period, including customers who never claim. Deduct reward costs, app fees, funding, support, returns, and fraud losses consistently. If the contribution calculation already includes an expense, do not subtract it again. The measure to pursue is the contribution created after program costs, compared with what would have happened without the incentive. App attribution can help assemble the evidence. It cannot establish the counterfactual on its own. ## Choosing a provider and reading the evidence Bring a defined product and operating model to the first provider discussion. “Virtual gift cards for [Shopify](https://giftcard.news/company/shopify/)” leaves open the recipient, the reward trigger, the issuing program and the party responsible for the funds. The questions below turn that broad request into something a provider can price and approve. ### T17\. Provider questions: product and access Scroll left or right to see all columns __T17\. Provider questions: product and access__ | Question | Why it changes the proposal | Concrete answer to request | | ---------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------- | --------------------------------------------------------------------------------- | | Which exact virtual [Visa](https://giftcard.news/company/visa/) and [Mastercard](https://giftcard.news/company/mastercard/) products can this program use? | Catalog branding does not identify the approved product | Product identifier, currency, recipient countries, and denomination range | | Who issues the card and who manages the program? | The provider's brand can cover several bank-backed products | Legal entities and current cardholder agreement | | Is the card single-load and nonreloadable? | “Virtual” does not define funding behavior | Product-specific loading rules and permitted adjustments | | Is the use case a referral reward, affiliate commission, purchase incentive, or consumer resale? | The proposed activity may require different approval | Written confirmation of the permitted use cases | | Can one platform serve multiple independent [Shopify](https://giftcard.news/company/shopify/) merchants? | A single corporate reward account may not cover a distribution business | Merchant onboarding, account hierarchy, funding separation, and contractual roles | | What recipient data and verification are required? | Claim friction and approval can differ by program | Exact fields, verification triggers, and exception handling | ### T18\. Provider questions: economics and remaining funds Scroll left or right to see all columns __T18\. Provider questions: economics and remaining funds__ | Question | Why it changes the proposal | Concrete answer to request | | ----------------------------------------------------------------------- | --------------------------------------------------------------- | ------------------------------------------------------------------------- | | What is the complete price at 100, 1,000, and 10,000 virtual rewards? | Small fixed fees and percentage funding fees behave differently | Itemized quote using the same face value and monthly activity assumptions | | Which fees are per card, per dollar, per merchant, or per month? | A single quoted percentage can hide different charging bases | Fee schedule with units, minimums, taxes, and optional services | | When are funds debited and when can unused prefunding be returned? | Cash timing affects working capital | Funding, settlement, reconciliation, and refund provisions | | What can be canceled before a reward is claimed? | Delivery and issuance are separate stages | Eligible statuses, windows, charges, and approval conditions | | Does the partner receive any unused issued-card value or revenue share? | Unspent balances do not establish entitlement | Contract clause, calculation base, exclusions, and settlement timing | | What happens to outstanding cards when the partnership ends? | Existing recipients may outlive the software contract | Servicing obligations, support continuity, reporting, and funds treatment | ### T19\. Provider questions: integration and recipient experience Scroll left or right to see all columns __T19\. Provider questions: integration and recipient experience__ | Question | Why it changes the proposal | Concrete answer to request | | ------------------------------------------------------------------------------------- | ------------------------------------------------------------------------ | --------------------------------------------------------------------------------------- | | Does the integration return a choice link, a claim link, or access to an issued card? | These are different products and completion states | Demonstration and API response definitions | | Which parts can use the partner's brand and domain? | White-label claims vary from email styling to a hosted card experience | Screens, domain rules, disclosures, and support ownership | | Which reward, card, and balance events are available? | A merchant needs to distinguish sent, claimed, issued, spent, and failed | Event catalog, permitted data access, and reconciliation reports | | How are duplicate requests and interrupted delivery handled? | Retrying an operation must not silently create duplicate rewards | Retry and duplicate-prevention behavior, refund path, and service commitments | | Which online transactions are restricted? | Network acceptance is subject to the selected program's rules | Country, currency, recurring-payment, merchant-category, and authorization restrictions | | What happens when a customer has only a small residual balance? | Recipient usability continues after the first purchase | Balance lookup, supported spending options, support, and expiration information | Use the answers to build a proposed program with named products, responsibilities and costs. An API or an app connection is a starting point; it is not a substitute for those terms. ### What the app connections tell us The clearest pattern is the connection between marketing software and rewards infrastructure. A merchant can reach a virtual-card provider through an app it already uses. The provider, in turn, can reach merchants without supplying the entire referral or affiliate system. The resulting choices span several business models. [Tremendous](https://giftcard.news/company/tremendous/) recurs behind app integrations. [BHN](https://giftcard.news/company/blackhawk-network/)/[Tango](https://giftcard.news/company/tango/) combines a large supplier group with digital reward delivery. [Runa](https://giftcard.news/company/runa/) powers a separately purchased loyalty module, while [Fondue](https://giftcard.news/company/fondue/) embeds a particular promotional program. [AnyCard](https://giftcard.news/company/anycard/) and [Pine Labs](https://giftcard.news/company/pine-labs/) illustrate the distance that can exist between a provider’s wider prepaid business and the product described in its [Shopify](https://giftcard.news/company/shopify/) listing. [Giftbit](https://giftcard.news/company/giftbit/), [PerfectGift](https://giftcard.news/company/perfectgift/), [InComm](https://giftcard.news/company/incomm-payments/) and [Onbe](https://giftcard.news/company/onbe/) add further direct and partner routes. The useful comparison is between complete workflows: a named virtual product, a price with clear units, a recipient journey and reporting that distinguishes delivery from use. Providers that make those elements easy for software partners to specify and explain are easier to evaluate. The agreement must also say what happens to every significant cost and balance. ### The conspicuous absences: Stripe and Adyen Two familiar names do not appear among the six fulfillment groups in this directory: [**Stripe**](https://giftcard.news/company/stripe/) **and** [**Adyen**](https://giftcard.news/company/adyen/). That is worth highlighting because both offer virtual-card issuing. Their absence here concerns the app relationships identified by this research, rather than their ability to create cards or their use elsewhere in commerce. The sheet review found no mention of either company in the checked fields of the 2,760 app records or in the comparison and provider tabs. [\[S01\]](#article-source-1). ### T20\. Issuing platforms absent from the identified app relationships Scroll left or right to see all columns __T20\. Issuing platforms absent from the identified app relationships__ | Platform | What its own documentation establishes | What this inventory establishes | | ----------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [Stripe](https://giftcard.news/company/stripe/) | [Stripe](https://giftcard.news/company/stripe/) Issuing can create virtual cards through its Dashboard and API. Its standard documentation describes commercial card programs, with program eligibility and use restrictions. [\[S88\]](#article-source-88), [\[S89\]](#article-source-89) | No [Stripe](https://giftcard.news/company/stripe/) Issuing fulfillment route was identified among the 18 app relationships. This does not establish zero use by [Shopify](https://giftcard.news/company/shopify/) businesses or by undisclosed partners. | | [Adyen](https://giftcard.news/company/adyen/) | [Adyen](https://giftcard.news/company/adyen/) Issuing supports virtual [Visa](https://giftcard.news/company/visa/) and [Mastercard](https://giftcard.news/company/mastercard/) cards, transaction controls, and pooled or separate balances. Implementation starts with the proposed business model and account structure. [\[S90\]](#article-source-90), [\[S91\]](#article-source-91) | No [Adyen](https://giftcard.news/company/adyen/) Issuing fulfillment route was identified among the 18 app relationships. Its wider payment or issuing business falls outside that finding. | The difference is between connecting an app to an existing reward catalog and building the card program behind the reward. Issuing infrastructure gives a platform more decisions to make about cardholders, funding, spending controls, and ongoing servicing. A referral app's ready-made reward option is a different starting point. Product approval matters as well. [Stripe](https://giftcard.news/company/stripe/)'s published Issuing rules prohibit specified consumer uses, including cards accessing consumer funds and cards disbursing payroll or payouts. A general statement that [Stripe](https://giftcard.news/company/stripe/) creates virtual cards therefore does not establish that the particular shopper-reward model proposed here is eligible. The exact product and permitted use case need to be established. [\[S92\]](#article-source-92). For [Adyen](https://giftcard.news/company/adyen/), the published onboarding process explicitly begins with the business model, intended cards, and expected activity. It then defines the accounts, verification, funding, and authorization arrangements. That supports considering [Adyen](https://giftcard.news/company/adyen/) for an appropriately designed issuing program; it does not supply evidence of an existing connection to one of these 18 apps. [\[S91\]](#article-source-91). Neither absence explains why the app developers chose their current providers. The public inventory cannot reveal undisclosed infrastructure, private partnerships, or rejected proposals. Its narrower finding is still useful: large issuing platforms can sit outside the reward-provider relationships that are easiest for a [Shopify](https://giftcard.news/company/shopify/) merchant to discover. ### Research scope and source boundaries * **Inventory:** The app counts and provider groupings were checked against the underlying sheet. It records two [Shopify](https://giftcard.news/company/shopify/) App Store searches and 2,760 distinct app URLs. The 18 relationships form an editorial evidence set, not a universal list or market-share ranking. * **Evidence strength:** Search descriptions, app listings, integration guides, provider catalogs, and cardholder agreements answer different questions. The directory preserves those differences, including configurable-catalog inferences and legacy documentation. * **Virtual scope:** This article evaluates digital delivery and virtual-card pathways. Costs or capabilities for other formats are not used to price the virtual programs. * **Geography:** US/USD is the principal comparison. A global catalog, US-dollar denomination, or multinational provider does not by itself establish eligibility in every country. * **Pricing:** The comparison uses the public schedules cited for 16 September 2026\. Calculations are labeled scenarios; unknown charges remain unknown. App fees, reward principal and provider/funding charges are separate. * [**Statista**](https://giftcard.news/company/statista/)**:** Consumer-experience data come from [Accenture](https://giftcard.news/company/accenture/)’s survey as published by [Statista](https://giftcard.news/company/statista/), with the population and multiple-response format stated. The US market series retains the source’s projection labels. * **Provider position:** Corporate-scale figures are attributed to the companies and retain their stated scope. No equivalent market-share comparison or private commercial commitment is asserted. * **Evidence boundary:** The article draws on the inventory and published materials. It claims no installation test, successful live issuance or response from a provider representative. Links accompany the relevant claims, including those inside tables. [Back to top ↑](#article-top) ## Sources and documents ExpandCollapse * [\[S01\] Gift Card News research inventory: Shopify Gift Card Providers — screening log, comparison, cost model and provider directory](https://docs.google.com/spreadsheets/d/1ZobOQGKre6R56N6NVf-PJ1ldyBUzHhCOd1chXY9Ttpk/edit?gid=817591479&utm%5Fsource=giftcard.news#gid=817591479) — Gift Card News research inventory * [\[S02\] Shopify gift-card overview](https://help.shopify.com/en/manual/products/gift-card-products/overview?utm%5Fsource=giftcard.news) — Shopify * [\[S03\] Shopify store-credit documentation](https://help.shopify.com/en/manual/customers/store-credit?utm%5Fsource=giftcard.news) — Shopify * [\[S04\] GiftKart's Shopify listing](https://apps.shopify.com/giftkart?utm%5Fsource=giftcard.news) — Shopify * [\[S05\] Fondue cardholder agreement](https://www.getfondue.com/cb-terms?utm%5Fsource=giftcard.news) — Fondue * [\[S06\] Shopify App Store search for “gift cards”](https://apps.shopify.com/search?q=gift+cards&utm%5Fsource=giftcard.news) — Shopify * [\[S07\] Shopify: search for “gift card”](https://apps.shopify.com/search?q=gift+card&utm%5Fsource=giftcard.news) — Shopify * [\[S08\] Shopify filings with the SEC: Shopify FY2025 results](https://www.sec.gov/Archives/edgar/data/1594805/000159480526000006/exhibit991pressreleaseq420.htm?utm%5Fsource=giftcard.news) — Shopify filings with the SEC * [\[S09\] Shopify filings with the SEC: Shopify 2025 annual filing](https://www.sec.gov/Archives/edgar/data/1594805/000159480526000007/shop-20251231.htm?utm%5Fsource=giftcard.news) — Shopify filings with the SEC * [\[S10\] Statista: US gift-card sales](https://www.statista.com/statistics/671202/us-gift-card-sales/?utm%5Fsource=giftcard.news) — Statista * [\[S11\] Statista: improving the gift-card experience](https://www.statista.com/statistics/1535516/improving-the-gift-card-experience/?utm%5Fsource=giftcard.news) — Statista * [\[S12\] Tremendous Visa program](https://www.tremendous.com/products/visa-cards/?utm%5Fsource=giftcard.news) — Tremendous * [\[S13\] Shopify: Snowball: Affiliate Marketing](https://apps.shopify.com/social-snowball?utm%5Fsource=giftcard.news) — Shopify * [\[S14\] Social Snowball: Setup](https://help.socialsnowball.io/en/articles/5544038-setting-up-the-tremendous-integration-for-quick-and-easy-commission-payouts?utm%5Fsource=giftcard.news) — Social Snowball * [\[S15\] Shopify: Friendbuy: Referrals & Loyalty](https://apps.shopify.com/friendbuy-lite?utm%5Fsource=giftcard.news) — Shopify * [\[S16\] Friendbuy: Integration](https://support.friendbuy.com/article/i1nfopntdb-how-to-enable-the-tremendous-integration?utm%5Fsource=giftcard.news) — Friendbuy * [\[S17\] Shopify: Referral Candy & Affiliate](https://apps.shopify.com/referralcandy?utm%5Fsource=giftcard.news) — Shopify * [\[S18\] ReferralCandy: Integration](https://help.referralcandy.com/en/articles/13424945-integration-tremendous?utm%5Fsource=giftcard.news) — ReferralCandy * [\[S19\] Shopify: BUZZ Affiliate Marketing](https://apps.shopify.com/buzzbassador?utm%5Fsource=giftcard.news) — Shopify * [\[S20\] Buzzbassador: Setup](https://help.buzzbassador.com/en/articles/8582993-how-to-set-up-the-tremendous-integration?utm%5Fsource=giftcard.news) — Buzzbassador * [\[S21\] Shopify: Yuko Affiliate Marketing](https://apps.shopify.com/affiliate-marketing-afflr?utm%5Fsource=giftcard.news) — Shopify * [\[S22\] Yuko: Integration](https://docs.afflr.io/payouts/payment-methods-in-yuko/tremendous?utm%5Fsource=giftcard.news) — Yuko * [\[S23\] Shopify: Referral Rocket & Affiliate](https://apps.shopify.com/referral-rocket-affiliate?utm%5Fsource=giftcard.news) — Shopify * [\[S24\] Referral Rocket: Integration](https://referralrocket.io/integrations/tremendous?utm%5Fsource=giftcard.news) — Referral Rocket * [\[S25\] Shopify: GOLDEN RATIO Affiliate Suite](https://apps.shopify.com/golden-ratio?utm%5Fsource=giftcard.news) — Shopify * [\[S26\] Golden Ratio: Integration](https://trygoldenratio.com/tremendous-integration?utm%5Fsource=giftcard.news) — Golden Ratio * [\[S27\] Shopify: Lootly Loyalty & Referrals](https://apps.shopify.com/lootly-loyalty-rewards?utm%5Fsource=giftcard.news) — Shopify * [\[S28\] Lootly: Visa announcement](https://lootly.io/resources/40/april-2024-release-notes?utm%5Fsource=giftcard.news) — Lootly * [\[S29\] Lootly: setup](https://support.lootly.io/en/articles/9105613-how-to-integrate-lootly-with-tremendous?utm%5Fsource=giftcard.news) — Lootly * [\[S30\] Shopify: 360º Referral Program Suite](https://apps.shopify.com/genius-referrals?utm%5Fsource=giftcard.news) — Shopify * [\[S31\] Genius Referrals: Integration](https://geniusreferrals.com/integrations/tango-card?utm%5Fsource=giftcard.news) — Genius Referrals * [\[S32\] Shopify: White Label Loyalty](https://apps.shopify.com/white-label-loyalty?utm%5Fsource=giftcard.news) — Shopify * [\[S33\] White Label Loyalty: Module](https://kbase.whitelabel-loyalty.com/product/modules/reward-fulfilment?utm%5Fsource=giftcard.news) — White Label Loyalty * [\[S34\] White Label Loyalty: Visa reference](https://kbase.whitelabel-loyalty.com/product/loyalty-engine/rewards-and-points/rewards/reward-types/vouchers?utm%5Fsource=giftcard.news) — White Label Loyalty * [\[S35\] Shopify: Fondue CashBack Promotions](https://apps.shopify.com/fondue-cashback-promotions?utm%5Fsource=giftcard.news) — Shopify * [\[S36\] Fondue: digital cashback FAQ](https://www.getfondue.com/cash-back-faq?utm%5Fsource=giftcard.news) — Fondue * [\[S37\] Shopify: rediem: loyalty & community](https://apps.shopify.com/rediem?utm%5Fsource=giftcard.news) — Shopify * [\[S38\] Shopify: Tyne: Text Referral Program](https://apps.shopify.com/tyne?utm%5Fsource=giftcard.news) — Shopify * [\[S39\] Shopify: Rave: Referral, Affiliate, UGC](https://apps.shopify.com/the-rave?utm%5Fsource=giftcard.news) — Shopify * [\[S40\] Rave: Customer terms](https://therave.co/customer-terms-of-service?utm%5Fsource=giftcard.news) — Rave * [\[S41\] Rave: FAQ](https://therave.co/faqs-for-customers?utm%5Fsource=giftcard.news) — Rave * [\[S42\] Shopify: GetAmbassador](https://apps.shopify.com/getambassador?utm%5Fsource=giftcard.news) — Shopify * [\[S43\] GetAmbassador: Current rewards marketing](https://getambassador.com/ambassador-rewards?utm%5Fsource=giftcard.news) — GetAmbassador * [\[S44\] GetAmbassador: Tango USD instructions](https://learn.getambassador.com/rewards-overview?utm%5Fsource=giftcard.news) — GetAmbassador * [\[S45\] Shopify: Swipewrap](https://apps.shopify.com/swipewrap?utm%5Fsource=giftcard.news) — Shopify * [\[S46\] Swipewrap: consumer reward-link offering](https://swipewrap.com/?utm%5Fsource=giftcard.news) — Swipewrap * [\[S47\] Shopify: AnyCard: Gift Card Platform](https://apps.shopify.com/anycard?utm%5Fsource=giftcard.news) — Shopify * [\[S48\] AnyCard: Rewards API](https://anycard.com/product/rewards-api/?utm%5Fsource=giftcard.news) — AnyCard * [\[S49\] Shopify: Qwikcilver-Gift Cards-Refunds](https://apps.shopify.com/live-qc-app?utm%5Fsource=giftcard.news) — Shopify * [\[S50\] Pine Labs: prepaid infrastructure](https://www.pinelabs.com/prepaid-solutions?utm%5Fsource=giftcard.news) — Pine Labs * [\[S51\] Social Snowball: Snowball payout workflow](https://help.socialsnowball.io/en/articles/5544295-sending-commission-payouts-with-the-tremendous-integration?utm%5Fsource=giftcard.news) — Social Snowball * [\[S52\] Buzzbassador: BUZZ payout authorization](https://help.buzzbassador.com/en/articles/4568765-can-buzzbassador-automatically-pay-my-members-rewards-on-a-schedule-i-set?utm%5Fsource=giftcard.news) — Buzzbassador * [\[S53\] Tremendous pricing](https://www.tremendous.com/pricing/?utm%5Fsource=giftcard.news) — Tremendous * [\[S54\] Social Snowball: Snowball](https://www.socialsnowball.io/pricing?utm%5Fsource=giftcard.news) — Social Snowball * [\[S55\] ReferralCandy](https://www.referralcandy.com/pricing/?utm%5Fsource=giftcard.news) — ReferralCandy * [\[S56\] Buzzbassador: BUZZ](https://www.buzzbassador.com/pricing?utm%5Fsource=giftcard.news) — Buzzbassador * [\[S57\] Referral Rocket](https://referralrocket.io/pricing?utm%5Fsource=giftcard.news) — Referral Rocket * [\[S58\] Lootly](https://lootly.io/pricing?utm%5Fsource=giftcard.news) — Lootly * [\[S59\] Buzzbassador: BUZZ plan requirements](https://help.buzzbassador.com/en/articles/16144527-what-features-are-gated-by-plan-tier?utm%5Fsource=giftcard.news) — Buzzbassador * [\[S60\] ReferralCandy success-fee calculation](https://help.referralcandy.com/en/articles/2457876-how-are-cash-rewards-or-success-fees-calculated-on-referred-purchases?utm%5Fsource=giftcard.news) — ReferralCandy * [\[S61\] Genius Referrals: vendor pricing](https://geniusreferrals.com/referral-program-pricing?utm%5Fsource=giftcard.news) — Genius Referrals * [\[S62\] GetAmbassador: enterprise pricing](https://getambassador.com/pricing-ent?utm%5Fsource=giftcard.news) — GetAmbassador * [\[S63\] AnyCard Shopify offering](https://anycard.com/product/shopify-landing/?utm%5Fsource=giftcard.news) — AnyCard * [\[S64\] Blackhawk Network: BHN products](https://blackhawknetwork.com/solutions/rewards-incentives/product-overview/digital-mastercard-visa?utm%5Fsource=giftcard.news) — Blackhawk Network * [\[S65\] Tango API](https://developers.tangocard.com/?utm%5Fsource=giftcard.news) — Tango * [\[S66\] Runa: Program terms](https://runa.io/runa-prepaid-card-terms-v1-2?utm%5Fsource=giftcard.news) — Runa * [\[S67\] Giftbit: Catalog](https://www.giftbit.com/rewards/global-prepaid-cards?utm%5Fsource=giftcard.news) — Giftbit * [\[S68\] Giftbit: developers](https://www.giftbit.com/developers/?utm%5Fsource=giftcard.news) — Giftbit * [\[S69\] PerfectGift: API](https://www.perfectgift.com/corporate/api?utm%5Fsource=giftcard.news) — PerfectGift * [\[S70\] PerfectGift: white-label offering](https://www.perfectgift.com/corporate/whitelabel?utm%5Fsource=giftcard.news) — PerfectGift * [\[S71\] InComm Payments: API](https://www.incomm.com/incentives/gift-card-api-integrations/?utm%5Fsource=giftcard.news) — InComm Payments * [\[S72\] InComm Payments press release: program disclosures](https://www.multivu.com/incomm/9302051-en-incomm-incentives-unlock-holiday-cheer-bulk-gift-cards?utm%5Fsource=giftcard.news) — InComm Payments press release * [\[S73\] Onbe: Payment choice](https://www.onbe.com/capabilities/payment-choice?utm%5Fsource=giftcard.news) — Onbe * [\[S74\] Onbe: partner models](https://www.onbe.com/partners/partners-overview?utm%5Fsource=giftcard.news) — Onbe * [\[S75\] Tango company history](https://www.tangocard.com/company/about-us?utm%5Fsource=giftcard.news) — Tango * [\[S76\] Blackhawk Network: BHN integration announcement](https://blackhawknetwork.com/company/news-press/blackhawk-network-bhn-completes-tango-card-integration-offer-new-globally-available-digital-rewards?utm%5Fsource=giftcard.news) — Blackhawk Network * [\[S77\] Giftbit pricing](https://www.giftbit.com/pricing?utm%5Fsource=giftcard.news) — Giftbit * [\[S78\] PerfectGift corporate pricing](https://www.perfectgift.com/corporate/pricing?utm%5Fsource=giftcard.news) — PerfectGift * [\[S79\] Onbe integrations](https://www.onbe.com/capabilities/flexible-integrations?utm%5Fsource=giftcard.news) — Onbe * [\[S80\] Onbe: program management](https://www.onbe.com/capabilities/program-management?utm%5Fsource=giftcard.news) — Onbe * [\[S81\] Blackhawk Network: BHN](https://blackhawknetwork.com/?utm%5Fsource=giftcard.news) — Blackhawk Network * [\[S82\] InComm Payments](https://www.incomm.com/?utm%5Fsource=giftcard.news) — InComm Payments * [\[S83\] Tremendous](https://www.tremendous.com/about/?utm%5Fsource=giftcard.news) — Tremendous * [\[S84\] Tango prepaid product information](https://www.tangocard.com/prepaid-visa-reward-digital-delivery?utm%5Fsource=giftcard.news) — Tango * [\[S85\] Shopify gift-card redemption and wallet documentation](https://help.shopify.com/en/manual/products/gift-card-products/redeem-gift-card?utm%5Fsource=giftcard.news) — Shopify * [\[S86\] Tremendous cancellation policy](https://help.tremendous.com/hc/en-us/articles/53772940833299-Cancel-an-order?utm%5Fsource=giftcard.news) — Tremendous * [\[S87\] Tango cancellation policy](https://help.rewardsgenius.com/articles/en%5FUS/Knowledge/TangoCardCancellationPolicy?utm%5Fsource=giftcard.news) — Tango * [\[S88\] Stripe: Virtual cards](https://docs.stripe.com/issuing/cards/virtual?utm%5Fsource=giftcard.news) — Stripe * [\[S89\] Stripe: Issuing overview](https://docs.stripe.com/issuing?utm%5Fsource=giftcard.news) — Stripe * [\[S90\] Adyen: Issuing documentation](https://docs.adyen.com/issuing?utm%5Fsource=giftcard.news) — Adyen * [\[S91\] Adyen: Getting started](https://docs.adyen.com/issuing/get-started?utm%5Fsource=giftcard.news) — Adyen * [\[S92\] Stripe Issuing restrictions](https://stripe.com/legal/restricted-businesses?utm%5Fsource=giftcard.news#prohibitions-for-stripe-issuing-products) — Stripe ## In this article ### Companies * [Accenture](https://giftcard.news/company/accenture/) * [Adyen](https://giftcard.news/company/adyen/) * [AnyCard](https://giftcard.news/company/anycard/) * [Blackhawk Network](https://giftcard.news/company/blackhawk-network/) * [Buzzbassador](https://giftcard.news/company/buzzbassador/) * [Fondue](https://giftcard.news/company/fondue/) * [Friendbuy](https://giftcard.news/company/friendbuy/) * [Genius Referrals](https://giftcard.news/company/genius-referrals/) * [GetAmbassador](https://giftcard.news/company/getambassador/) * [GiftKart](https://giftcard.news/company/giftkart/) * [Giftbit](https://giftcard.news/company/giftbit/) * [Golden Ratio](https://giftcard.news/company/golden-ratio/) * [InComm Payments](https://giftcard.news/company/incomm-payments/) * [Lootly](https://giftcard.news/company/lootly/) * [Mastercard](https://giftcard.news/company/mastercard/) * [Onbe](https://giftcard.news/company/onbe/) * [Patriot Bank](https://giftcard.news/company/patriot-bank/) * [PerfectGift](https://giftcard.news/company/perfectgift/) * [Pine Labs](https://giftcard.news/company/pine-labs/) * [Postscript](https://giftcard.news/company/postscript/) * [Qwikcilver](https://giftcard.news/company/qwikcilver/) * [Rave](https://giftcard.news/company/rave/) * [Referral Rocket](https://giftcard.news/company/referral-rocket/) * [ReferralCandy](https://giftcard.news/company/referralcandy/) * [Runa](https://giftcard.news/company/runa/) * [Shopify](https://giftcard.news/company/shopify/) * [Social Snowball](https://giftcard.news/company/social-snowball/) * [Statista](https://giftcard.news/company/statista/) * [Stripe](https://giftcard.news/company/stripe/) * [Sutton Bank](https://giftcard.news/company/sutton-bank/) * [Swipewrap](https://giftcard.news/company/swipewrap/) * [Tango](https://giftcard.news/company/tango/) * [Tremendous](https://giftcard.news/company/tremendous/) * [Tyne](https://giftcard.news/company/tyne/) * [Visa](https://giftcard.news/company/visa/) * [White Label Loyalty](https://giftcard.news/company/white-label-loyalty/) * [Yuko](https://giftcard.news/company/yuko/) * [rediem](https://giftcard.news/company/rediem/) ### Organizations * [U.S. Securities and Exchange Commission](https://giftcard.news/organization/u-s-securities-and-exchange-commission/) Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Fwho-powers-virtual-gift-cards-on-shopify%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=Who%20Powers%20Virtual%20Gift%20Cards%20on%20Shopify%3F "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Fwho-powers-virtual-gift-cards-on-shopify%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial "LinkedIn") [ ](https://wa.me/?text=Who%20Powers%20Virtual%20Gift%20Cards%20on%20Shopify%3F%20https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Fwho-powers-virtual-gift-cards-on-shopify%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial "WhatsApp") ![Portrait of Oliver Reed](https://giftcard.news/images/variants/v1/oliver-reed-editorial-portrait-w320.webp) About the author ## [Oliver Reed](https://giftcard.news/author/oliver-reed/) Journalist — Industry Deals & Research Oliver Reed covers industry acquisitions, investment and market research for Gift Card News. ## Related articles [Research & Trends](https://giftcard.news/research-trends/) Analysis ### [Gift Card Breakage - The money left behind](https://giftcard.news/research-trends/gift-card-breakage-the-money-left-behind/) [Oliver Reed](https://giftcard.news/author/oliver-reed/) September 16, 2026 51 min [Research & Trends](https://giftcard.news/research-trends/) Analysis ### [What people want when they check a gift card balance](https://giftcard.news/research-trends/what-people-want-when-they-check-a-gift-card-balance/) [Oliver Reed](https://giftcard.news/author/oliver-reed/) September 16, 2026 29 min [Research & Trends](https://giftcard.news/research-trends/) Analysis ### [AI Can Shop for You. Can It Spend Your Gift Cards?](https://giftcard.news/research-trends/ai-can-shop-for-you-can-it-spend-your-gift-cards/) [Oliver Reed](https://giftcard.news/author/oliver-reed/) September 17, 2026 17 min From reading to building ## Your next move in gift cards. Tell us what you’re building. We’ll help you explore suitable providers. [Find a provider ](https://giftcard.news/find-a-provider/) **In this report** 1. [What a virtual gift card means on Shopify](#article-section-what-a-virtual-gift-card-means-on-shopify) 2. [The 18-app directory and its six provider groups](#article-section-the-18-app-directory-and-its-six-provider-groups) 3. [What a virtual-card program actually costs](#article-section-what-a-virtual-card-program-actually-costs) 4. [The providers behind and beyond the apps](#article-section-the-providers-behind-and-beyond-the-apps) 5. [What happens between reward approval and spending](#article-section-what-happens-between-reward-approval-and-spending) 6. [Unused value and merchant recovery rights](#article-section-unused-value-and-merchant-recovery-rights) 7. [How to measure program value](#article-section-how-to-measure-program-value) 8. [Choosing a provider and reading the evidence](#article-section-choosing-a-provider-and-reading-the-evidence) [Download data (CSV)](https://giftcard.news/research-trends/who-powers-virtual-gift-cards-on-shopify/data.csv) [Back to top ↑](#article-top) ## Related articles [Research & Trends](https://giftcard.news/research-trends/) Analysis ### [Gift Card Breakage - The money left behind](https://giftcard.news/research-trends/gift-card-breakage-the-money-left-behind/) [Oliver Reed](https://giftcard.news/author/oliver-reed/) September 16, 2026 51 min [Research & Trends](https://giftcard.news/research-trends/) Analysis ### [What people want when they check a gift card balance](https://giftcard.news/research-trends/what-people-want-when-they-check-a-gift-card-balance/) [Oliver Reed](https://giftcard.news/author/oliver-reed/) September 16, 2026 29 min [Research & Trends](https://giftcard.news/research-trends/) Analysis ### [AI Can Shop for You. Can It Spend Your Gift Cards?](https://giftcard.news/research-trends/ai-can-shop-for-you-can-it-spend-your-gift-cards/) [Oliver Reed](https://giftcard.news/author/oliver-reed/) September 17, 2026 17 min ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://giftcard.news/#publisher","name":"Gift Card News","url":"https://giftcard.news/","logo":{"@type":"ImageObject","url":"https://giftcard.news/brand/giftcard-news-logo.svg"}},{"@type":"Person","@id":"https://giftcard.news/author/oliver-reed/#person","name":"Oliver Reed","url":"https://giftcard.news/author/oliver-reed/","description":"Oliver Reed covers industry acquisitions, investment and market research for Gift Card News.","jobTitle":"Journalist — Industry Deals & Research","image":{"@type":"ImageObject","url":"https://giftcard.news/images/oliver-reed-editorial-portrait.webp","contentUrl":"https://giftcard.news/images/oliver-reed-editorial-portrait.webp","width":256,"height":256,"caption":"Illustrated portrait representing the Oliver Reed editorial profile."}},{"@type":"ImageObject","url":"https://giftcard.news/images/who-powers-virtual-gift-cards-shopify.webp","contentUrl":"https://giftcard.news/images/who-powers-virtual-gift-cards-shopify.webp","width":1586,"height":992,"caption":"Behind the storefront: apps connect merchants to reward providers and card programs. 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