A new gift card trading website called CouponTrade.com is growing in popularity, as it provides consumers with a lucrative alternative for their unused, prepaid cards, NY1 reports.
Founders George Bousis and Brad Wasz created the site because, according to Bousis, 20 percent of promotional gift cards go unused. In addition, a survey conducted by nonprofit Get to Work America reported that of the $86 billion in gift cards purchased in 2010, approximately $40 billion will go unredeemed, the Libertyville, Illinois, Patch reports.
Bousis hopes the site becomes an all-purpose site for anyone with funds remaining on a prepaid card they don’t plan to use, NY1 notes.
The site doesn’t charge users for listing the cards, and the founders earn revenue from sales and commission.
“We don’t charge anybody to list anything on the website,” Wasz told the media outlet. “The only thing we do charge is when the item sells. So on a sale we get 99 cents per listing fee and 10 percent commission for the sale.”
He adds that if someone decides to sell using CouponTrade.com, they’ll typically receive a bid if the card is priced at 90 percent of its original value.Back To Blog