I have seen many companies online that do this (giftcardbin, giftcardrescue, plasticjungle), but nonetheless, I think it's a good idea to implement into your store.
*I actually saw a commercial about two or three months ago for a site that pays 60% of your gift card in cash.
Even if others have already used the idea, though, you have the advantage of immediate cash. Whereas these online sites require 3-5 days to receive your "cash" in the form of a check. So, I think it's a great idea as long as it's making you money.
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