Prepaid debit company acquires Swapagift.com
Wolfe.com, the parent company of prepaid Visa debit card issuer GiftCards.com, has acquired Swapagift.com.
Founded in 2003 as a gift card trading exchange, Swapagift.com enables customers to buy, sell and trade unwanted gift cards. Via its Certified Partner programme, Swapagift.com buys unwanted merchant gift cards in the secondary market.
GiftCards.com says the acquisition of Swapagift.com will enable it to sell discounted merchant gift cards to its customers.
Jason Wolfe CEO of GiftCards.com, commented: “In these difficult economic times, we are happy that we can offer discounted gift cards to our customers. We have become a one stop shop for gift cards by offering Visa gift cards and discounted merchant gift cards from over 200 national retailers, supermarkets, and restaurants.”
Michael Kelly, CEO of Swapagift.com, said that in a slow economic market discounted gift cards have become more popular among shoppers.
“We surveyed our customers and found that 96% use discounted gift cards for personal use,” said Kelly. “Even though spending on luxury items has decreased, people are still spending money on the things they need.”
As part of the acquisition, president MJ Kelly and CEO Michael Kelly will continue to oversee Swapagift.com.