PITTSBURGH, July 24, 2012 /PRNewswire/ -- GiftCards.com, the industry leader for online gift cards, today announces the issuance of groundbreaking patents covering the secondary gift card market and the prepaid account market.
United States Patents Nos. 8,152,060 and 8,152,061 were issued on April 10, 2012. These patents cover the process of buying and selling prepaid gift accounts directly and indirectly, mitigating the fraud issue in the market. These patents are part of a larger set of patents that GiftCards.com has pending, dealing with the secondary gift card and prepaid account space. GiftCards.com is the owner of Swapagift.com, the pioneer of the secondary gift card space since 2003 and the first to buy and sell gift cards from consumers.
"When we bought SwapaGift in 2008, we noticed there were several flaws in the business model. This industry continues to grow significantly because customers are looking for additional ways to save money, and it was important for us to resolve some issues in this market that we discovered. We invented solutions to these issues, and new and innovative ways to conduct the buying and selling of gift cards from consumers directly. We are happy to see some of the core patents now being issued. We expect our innovation to help propel our products to become the market leader," says Jason Wolfe, CEO of GiftCards.com.
Founded in 1999, GiftCards.com™ is the web's #1 provider of gift cards selling payment association branded prepaid debit gift cards, corporate incentives, group gifts, and discount gift cards to hundreds of today's most popular retailers. GiftCards.com is the exclusive website to offer payment association branded gift cards to over 4 million local retailers, including restaurants, apparel retailers, car washes and more.