Cardlimbo.com.au launches Australia’s first dedicated online market to eliminate gift card voucher wastage.

Gift card vouchers worth millions of dollars expire unused each year. In an Australian first, Cardlimbo (www.cardlimbo.com.au) today launched Australia’s first dedicated online marketplace to sell, buy or donate unwanted gift card vouchers.

Cardlimbo.com.au allows consumers to sell with ease their unwanted gift card vouchers for cash or alternatively donate them to a selection of charities. People can also buy gift card vouchers online at a discount of up to 30 percent.
Australian retailers now issue up to $1billion worth of gift card vouchers annually, with a year on year growth rate of up to 20 percent.

In the lead-up to Christmas 2009, it was estimated that 1 in 5 Australians at the time intended to purchase a gift card voucher, making them last year’s number one Christmas gift item*.(*Source: Australian National Retailers Association and AMEX survey)

According to Choice (Australian Consumers’ Association) up to 1 in 3 gift card vouchers in Australia are now believed to expire without being used**. (**Source: Sunday Herald Sun 3/1/2010).

The Melbourne based online retail company Cardlimbo.com.au plans to revolutionise the way consumers use gift card vouchers, issued by major retailers, in the Australian market.

Founder and CEO of Cardlimbo.com.au, Mr Tom Smith, said that the large phenomenon of unused gift card vouchers in Australia needs to be addressed through the creation of true choice for consumers.  

“Up until now retailers are pocketing the funds of unused and expired gift card vouchers and consumers are missing out.” Mr Koochew said.

“The reality is many people would prefer cash rather than a gift card voucher in their purse or wallet and Cardlimbo.com.au now delivers this choice to consumers”.

“In these times of rising interest rates and household budgets being squeezed by higher living costs, disposable cash is becoming more important to people.”

“By creating the option to sell, buy or donate unwanted gift card vouchers in a secure and user friendly online environment, people now have the power to choose exactly what they want, and to convert their unwanted gift card vouchers into cash.”

Cardlimbo.com.au gives consumers the opportunity to sell, buy or donate unwanted gift card vouchers online from over 60 existing major Australian retailers, hotel chains, cinemas and other service providers, including Myer, David Jones, Bunnings, JB Hi-Fi, Rebel Sport, Borders, iTunes and Village Cinemas.

To sell an unwanted gift card voucher, customers simply enter the gift card voucher details via the website Cardlimbo.com.au to receive an instant cash quote. After
customers accept the quote, they select their preferred method of payment and mail the gift card voucher to Cardlimbo. Once the gift card voucher is received, Cardlimbo.com.au validates it and then transfers the cash to the customer via bank transfer or cheque.  

Consumers may also buy valid gift card vouchers at a discount of up to 30 percent off their face value at Cardlimbo.com.au.

Cardlimbo.com.au also offers its customers the unique opportunity to donate the value of gift card vouchers to a selection of charities, including:
  • Plan International  Australia, www.plan.org.au, supporting children in developing countries living in poverty;
  • Barnardos www.barnardos.org.au, providing child welfare services in Australia including the prevention of childhood neglect; and 
  • Planet Ark www.planetark.org, showing people and businesses how they can reduce their day to day impact on the environment and eliminate waste.

To donate a gift card voucher, consumers select their preferred charity, complete the details online and mail in the gift card voucher to Cardlimbo. The donated gift card voucher will be made available for sale at a discount to its retail value at Cardlimbo.com.au. Once sold, the funds are transferred on the basis agreed with the charity partners.

Other advantages unique to Cardlimbo.com.au in the Australian market include:
  • Instant and guaranteed cash offer for a wide range of valid gift card vouchers;
  • Guaranteed validity of gift card voucher balance and expiry date for all gift card vouchers offered for sale;
  • Free shipping within Australia of purchased gift card vouchers to consumers.

Globally, the secondary dedicated online gift card voucher market, which until now did not exist in Australia, has proven to be very successful, with US firms such as www.plasticjungle.com and www.giftcardrescue.com growing rapidly.
A former executive with Jetstar Airways and Manager at Accenture, Mr Koochew, 33, has plans to launch Cardlimbo.com.au into international markets within a year.

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