StorefrontBacktalk - Is The Unredeemed Giftcard About To Go Away?: "A new Web giftcard exchange could shake up the giftcard space, with cards selling to consumers for less than face-value and retailers getting the gift that keeps on giving: heretofore unavailable data on who is using these cards.
Trying to address the hundreds of millions of dollars lost each year in giftcards that are never redeemed, a Fresno, California, company has created a Web giftcard exchange with a difference. The difference from consumers selling their unused cards on Ebay? The site is selling valid giftcards for less than the card's face value, which could have a significant impact on retail giftcard sales.
PlasticJungle.com's CEO said the firm plans on partnering with major retailers, to help them reduce accounting losses from unredeemed giftcards."