Santa Clara, CA (PRWEB) February 10, 2010
Under Mercardi's new "Cash for Cards" program, Americans can now resell their retailer gift cards directly to Mercardi for a guaranteed payment. The company provides a free shipping label to send the gift cards directly to Mercardi's processing center. Check payouts are issued within two business days and average about 75% of the gift card's face value - with some as high as 90%. The website (http://www.mercardi.com) supports selling gift cards for use at Nordstrom, Wal-Mart, and more than 200 other national retailers.
"The average American household has almost $300 tied up in unused gift cards - many of which they've been holding on to for years. Mercardi unleashes these dollars quickly and easily," said Eric Etu, CEO of Mercardi. He added, "People don’t want to list their gift cards for sale and wait around for a buyer. They also don’t want to pay 10% or more in fees for an online auction. People just want to get cash for their gift cards - instantly. Enter Mercardi!"
Recognizing the high rate of fraud in the gift card industry, Mercardi created its industry-leading Mercardi Guarantee, which protects sellers transacting on the Mercardi marketplace. Rather than selling to unknown buyers on person-to-person marketplaces, sellers can now sell their unwanted gift cards directly to Mercardi. The Mercardi Guarantee offers each seller a safe transaction and a quick payment.
As part of its "Cash for Cards" program, Mercardi is also partnering with nonprofit organizations to help them fundraise by facilitating donations of gift cards. Via a turnkey solution, the company works with the development officer to develop marketing tools to publicize the fundraising program and collects gift cards from the organizations’ donors. It then pays the NPOs guaranteed prices for each gift card collected. Sterrin Bird, CFRE, Director of Institutional Advancement at Sacred Heart Schools, explained: "It can be harder for people to donate cash in these difficult economic times. Mercardi gave our donors another easy way to donate - and helped us reach our fundraising goals."
“Over the last couple of months, we have seen a significant increase in both buyers and sellers on our site. Mercardi is quickly becoming a one-stop shop for consumers' gift card needs. To further drive awareness, we’re leveraging the power of social networks in addition to using traditional marketing tools. Thus far, the response has been tremendous!” added Raina Bijlani, Vice President of Business Development at Mercardi.
Mercardi (http://www.mercardi.com) is an online marketplace for buying and selling gift cards to more than 200 national retailers. Consumers can sell their unused gift cards directly to Mercardi for instant cash, and online bargain hunters can buy discounted gift cards for instant discounts at their favorite stores. Mercardi also supports nonprofits by helping them fundraise with donations of gift cards. All transactions on the Mercardi marketplace are protected by the Mercardi Guarantee. Incubated at the University of Chicago's Polsky Center for Entrepreneurship, Mercardi, Inc. is now a privately-held company headquartered in Santa Clara, CA.