Gift Card Swapping

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Our Role in this Crazy Mess

Aug 22 nd, 2017

Have you ever bought a gift card as a gift to someone?  Of course you have!  We ALL have!  Ever wonder if they ever actually use them?  Well, the numbers vary, but it’s safe to say that well over $1 Billion worth of gift cards go unused each year!  We believe it’s actually much higher than that.  But even so, just think about that.

One.  Billion.  Dollars.

Sitting in drawers, wallets, purses and in that untouched stack of dust-collecting crap behind your computer on your otherwise nicely polished hardwood desk in the den.  But I digress.  The reason GiftCardSwapping exists is not just to earn income for its owners – a goal yet to be achieved – but to serve as a means to get those gift cards out of the hands of people who just don’t want them and INTO the hands of those who do! Why is that so important?  Read on.

By moving them from the hands of people who don’t want them into the hands of people who do want them, we are getting those gift cards and the money they represent back into the economy.  This is a powerful concept because it contributes to solving several problems in both the public and retail sectors caused by these billions of dollars of parked money.

For the public, swapping one gift card for another allows our customers a practical means to get the gift they really want by swapping a gift card they will not redeem for one they will redeem.  This in itself corrects two problems.  First, the person who initially purchased the gift card to give as a gift will finally see their money put to use when the receiver of the unwanted card swaps it for a gift card of equal value and redeems it.  Second, the initial recipient of the unwanted gift card now has a gift card that they do want.  That’s a win-win.

For retailers, our concept assists all gift card-issuing merchants in several ways.  First, by getting their gift cards redeemed when they otherwise may not have been, merchants avoid escheatment laws that are gaining popularity throughout the United States.  These laws dictate that money accepted as payment for gift card sales is held in escrow and is subject to public domain after a certain period of time, typically five years.  Only when gift cards are redeemed for actual goods and services can merchants claim the revenue in their books.  Second, merchants know that most gift card users tend to purchase more than the value of the gift card.  Third, purchases made with gift cards are statistically higher than those made without gift cards, even if the full value of the card is not used.

Get it?  It’s our way of contributing to the economy!  So, that’s the gist of it and the real reason we exist – other than trying to make a dime – and why we’d appreciate your support by posting those gift cards you have sitting around and swapping or outright selling them!

Thanks for reading.  I’ll try to update our blog more often.  It seems to be a challenge for me :)