Exchanging a retailer-specific gift card for money involves selling the card’s stored value to a third-party individual or business. This process allows the holder to obtain spendable currency in place of credit restricted to a particular store. For instance, someone with a $100 gift card they are unlikely to use might choose to convert it to $80 in cash through a dedicated platform or a private transaction.
This practice offers flexibility to consumers, allowing them to access funds for more immediate needs or preferred purchases elsewhere. Historically, the emergence of gift card exchanges arose from the growing popularity of gift cards and a corresponding need for a secondary market. This market facilitates value transfer for unwanted or unusable gift cards, minimizing waste and maximizing the utility of these assets. This demand has led to the development of various online platforms and physical kiosks dedicated to facilitating these transactions.