Brick, New Jersey (PRWEB) July 16, 2013
CardCash.com, the leader in the secondary gift card market, announced last week that they have revamped their internal system to accommodate the market’s increased demand for electronic gift card sales. With digital gift cards taking over an increasing share of the $110 billion US gift card market, the move to buying and selling electronic gift cards helps CardCash.com meet customer’s needs.
Estimates place the number of unused gift cards at about 10 percent of the market. CardCash.com lets users tap into this market by buying directly from consumers, paying up to 97% for unwanted gift cards that would otherwise sit in a person’s wallet. Consumers looking for a bargain can then buy discounted gift cards to leading retailers, saving as much as 40% at great retailers nationwide.
Where do electronic gift cards fit into these growing numbers? Digital gift card sales have continued to steadily climb over the past number of years. According to a study by Transaction Wireless 28% of retailers accept digital gift cards.
Another frontier on the digital gift card front is mobile gift cards. The same study from Transaction Wireless shows only 15% of retailers currently offer them, but that number is expected to surge to 61% within three years’ time. The growing popularity of Apple’s Passbook app has helped lead the surge.
CardCash.com’s e-code sale system helps consumers tap into this ever-growing market. Since introducing the new system last month, customers have been able to sell gift cards electronically to the country’s leading retailers, including Home Depot, Lowe’s, Best Buy, Apple and Macy’s among many others.
“Despite the increased possibility of fraud with dealing in e-codes, as part of our system upgrade we have implemented new and improved fraud filters to help protect ourselves and our customers from fraudulent sellers,” says CardCash.com COO Marc Ackerman. “By selling us e-codes it actually makes the turnaround time in receiving payment for your gift card even quicker.”
During the holiday season alone Americans purchased roughly $28.79 billion in gift cards, according to the National Retail Federation. But with annual gift card sales expected to top $110 billion this year, it’s not only the holiday season when people buy gift cards. In fact, a survey released on June 18th, 2013 by the Retail Gift Card Association shows 91.4 percent of people reporting they plan to give one to three retail gift cards as gifts in the next three months.
CardCash.com was ranked by Forbes as #85 on their 2013 list of America's Most Promising Companies, and ranked #68 on the Inc. 500's list of fastest growing private companies in America. CardCash.com is the leading online discounted gift card exchange, enabling customers to buy, sell or trade gift cards and save up to 35 percent on gift card purchases.
According to recent studies, there are close to 60 billion dollars of unwanted and unused gift cards collecting dust in the United States. CardCash.com has been helping millions of Americans turn these cards into cash since its inception in 2008. And now, just a few years later, the Web site has reached a new level, transferring millions of dollars per year in gift cards to people who have no use for them to people who are anxious to save money on all of their shopping expenses.
Headquartered in Brick, NJ, CardCash.com presently offers the largest selection of discounted gift cards online and has the highest standards of security implemented to identify fraudulent sellers and inaccurate cards.
You can find them on Twitter @CardCash or on their Facebook page.