PITTSBURGH, PENNSYLVANIA JANUARY 11, 2017
The secondary market of buying and selling used gift cards is growing. The secondary gift card marketplace helps millions of people save hundreds of millions of dollars every year, and it drives additional business to stores and restaurants. To date, there has been no industry or government imposed standards in the secondary gift card marketplace, despite the risk of potential fraud and illegal activity in the space, until now.
Gift Card Granny, a meta site that partners with discount gift card exchanges, is leading the way in establishing the first Consumer Protection Standards amongst its vetted partner base. Granny’s unique relationship with both the gift card buyers and sellers has provided them with an excellent opportunity to help provide transparency to the industry.
“We take our role of being an advocate for the consumer very seriously, and now we are taking it one step further,” said Jason Wolfe, CEO of Gift Card Granny. “Until recently, our focus was on providing consumers data on where to buy the best discount gift card amongst all the exchanges. Now, by launching our Consumer Protection Standards, we are providing helpful information to consumers about the Gift Card Granny vetted exchanges themselves – whom to trust to buy from and sell to. We suggest checking this list before buying or selling gift cards in the secondary market."
The list of 5 standards that the Gift Card Granny vetted partners have agreed to include:
· Refund/Return Policy: Partner will provide a Refund/Return policy to Customers whose Transactions resulted in a loss to the Customer due to fraud, inaccurate data, or cards with no value.
· Shipping/Delivery Expectations: Partner will clearly communicate shipping or delivery expectations for each Transaction.
· Customer Support: Partner will make available to Customers contact information for Customer Support.
· Know Your Source: Partners commit to not buying gift cards from illegal operations such as illegal drugs, firearms, prostitution, or credit card fraud.
The newly introduced Consumer Protection Standards come at a time of increased fraud and illegal activity in the secondary gift card marketplace. Gift Card Granny has added a tool where customers can easily report fraudulent activity and poor customer experiences they’ve encountered with online gift card exchanges.
In addition to the Consumer Protection Standards that buyers and sellers can expect when transacting with one of Gift Card Granny’s partners, consumers can find helpful insight on each exchange -- from useful reviews, to contact details for all of the partner exchanges.
Gift Card Granny’s Consumer Protection Standards can be found at https://www.giftcardgranny.com/consumer-protection/