Retail

CVS Offers In-Store Gift Card Exchange

By Kate Mulcrone
January 3, 2013

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San Jose, CA-based gift card merchant Plastic Jungle has launched a gift card exchange in 7,400 CVS/pharmacy stores in the US. Customers can now sell unspent gift cards in-store and receive CVS/pharmacy electronic gift cards in return. The CVS/pharmacy gift card is redeemable in any CVS/pharmacy store. 

The exchange service is available through smartphones with cameras or online at cvsgiftcard.plasticjungle.com. Using QR, SMS, and web technology, CVS/pharmacy shoppers can now sell more than 150 gift cards through the exchange and receive CVS/pharmacy shopping credit in the form of electronic gift cards. 

The program was designed to monetize the billions of dollars of unused cards.

"We are delighted to have CVS/pharmacy -- a pioneer in delivering prepaid and gift card value to consumers -- as our launch partner for our real-time, mobile gift card exchange," said Margaret Mackenzie, CEO of Plastic Jungle, in a statement. "Plastic Jungle has developed a state of the art platform that allows consumers to get more value and choice from the gift cards they receive. Our ability to make this an immediate process that delivers value to both the consumer and CVS/pharmacy is representative of the approach we have taken to unlocking gift card value."
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