Gamers rejoice! One startup, called Openbucks, will convert your gift cards to an alternate payment platform that can be used to make purchases at a number of participating gaming companies.
Do you want to make purchases online but don’t want to be bothered with having to type in your sensitive credit card info? Or, are you a teenager that loves to game online but lacks access to credit? Openbucks is a solution to for both situations.
Online Protection is a Main Concern of Openbucks
Let’s face it, while using a credit card is perhaps the most convenient way to make online purchases, it can also present its own challenges when it comes to online safety.
This is exactly the idea which lead to the creation of Openbucks, which recently made its official debut at the TechCrunch Disrupt Battlefield this week.
How Openbucks Works
The way the company’s business works is simple: instead of consumers using their credit card information to make online purchases, they can instead purchase gift cards from participating merchants, which include sandwich retailer Subway, Sports Authority, Hess and CVS Pharmacy.
Once a gift card has been purchased, it can then be used to purchase gaming credit from websites like Bigpoint, World Golf Tour, Meez and Parallel Kingdom.
For now, the service appear to primarily be targeted towards online gamers and, in light of the hacking attacks sustained by Sony Playstation customers earlier this year, a concept like this couldn’t have come out at a better time.
As TechCruch pointed out, this service will do good amongst teenagers who have limited access to credit cards since most credit card issuers require that you be at least 18 years old to apply. What will be interesting is whether or not the service is expanded to cover companies not in the gaming realm.
Watch the video below for a brief demonstration about how the company’s product works: