Consumer Payment Card News

ChargeSmart and Plastic Jungle

Now you will be able to make good use of those old, unused giftcards! ChargeSmart online consumer bill payment portal and Plastic Jungle secured gift card exchange have partnered so you can use your unredeemed gift cards to make payments on utility, car and mortgage bills. Officially debuted at FinovateSpring 2011, this new gift card exchange solution will be available in the next couple months. Merchant-issued- or closed loop – gift cards now represent $90 billion of the U.S. economy, and an estimated $30 billion in gift cards are unredeemed at any given time. This brings liquidity to the secondary gift card market by allowing consumers to buy gift cards at their favorite stores for savings up to 35 percent, sell unredeemed gift cards for up to 92 percent of the gift card value, or donate the value of unused cards to their favorite cause!

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