System and method for brand name gift card exchange
View Patent ↗The present invention provides for exchanging a gift card. Data associated with a first gift card is provided. The data associated with the first gift card is validated. Either a money rebate associated with the first gift card, or a second gift card is selected. The first gift card is exchanged for either a money rebate or the second gift card. An exchange fee is generated by both the vendor associated with the gift card and the company performing the exchange.
1. A method of exchanging a gift card, comprising:
providing data associated with a first gift card;
validating the data associated with the first gift card;
selecting either a money rebate associated with the first gift card, or a second gift card;
exchanging the first gift card for either a money rebate or the second gift card; and
charging a first service fee for issuing the second gift card.
2. The method of claim 1 , wherein providing data further comprises providing a merchant name.
3. The method of claim 1 , wherein providing data further comprises providing an account number.
4. The method of claim 1 , further comprising charging a second service fee for issuing the money amount.
5. The method of claim 1 , wherein providing the data associated with the gift card occurs with employment of a kiosk.
6. The method of claim 1 , wherein providing the data associated with the gift card occurs with employment of a personal computer.
7. The method of claim 1 , further comprising releasing funds associated with the first gift card by a vendor.
8. The method of claim 7 , further comprising charging a third service fee for releasing funds associated with the first gift card by the vendor.
9. The method of claim 1 , further comprising issuing the money by mail.
10. The method of claim 1 , further comprising correlating the exchange of the gift card with at least one other piece of data.
11. The method of claim 10 , wherein the step of correlating consists of at least one of the group of the trade name of the associated second gift card, the time of the exchange, and the type of consumer transaction device.