SOURCE: Plastic Jungle

Plastic Jungle

February 26, 2013 11:00 ET

Plastic Jungle Turns Gift Cards Into Best Buy Reward Zone Credit

Program Allows Consumers to Trade Unused Gift Cards From Over 100 Different Brands for Best Buy Reward Zone Points Online

SAN MATEO, CA--(Marketwire - Feb 26, 2013) - Plastic Jungle, the web's largest secured gift card exchange, has announced a partnership with Best Buy that enables Best Buy Reward Zone members to exchange unused gift cards from other retailers for Reward Zone points. Reward Zone points can be redeemed for reward certificates to be used toward purchases at any Best Buy location or online at BestBuy.com.

The Plastic Jungle gift card exchange program works instantly, letting customers turn unspent gift cards from over 100 different brands into Best Buy Reward Zone points online at https://www.plasticjungle.com/exchange/bestbuy. The value of the Best Buy Reward Zone credit is determined by the demand for the brand of the redeemed card in Plastic Jungle's online marketplace.

The exchange program with Best Buy is the latest in a series of retailer partnerships offering Plastic Jungle users a variety of payout options. In November 2012, Plastic Jungle launched a first-of-its-kind in-store gift card exchange with CVS/pharmacy that lets customers trade unspent gift cards for CVS/pharmacy credit; the program is launched through a unique QR code posted on Prepaid Card installations in 7,400 CVS/pharmacy locations. Plastic Jungle has also partnered with United MileagePlus, which allows consumers to trade unused gift cards for United Airlines miles. In addition, Plastic Jungle users can exchange their cards for an Amazon.com gift card, FlexPerks points, Zeevex virtual currency, or for cash added to their PayPal accounts. Plastic Jungle users also have the option of trading gift cards in for money, mailed to them in the form of a check.

"The new exchange program with Best Buy is a fantastic development," said Margaret Mackenzie, CEO of Plastic Jungle. "Not only do Reward Zone program members benefit from finding value in unused gift cards, but Best Buy can look forward to giving their most loyal customers more spending power. We are thrilled to add Best Buy -- a leader in consumer electronics -- to our list of partners."

Plastic Jungle offers liquidity to consumers and helps unlock the estimated billions in unredeemed gift cards by allowing people to sell gift cards for up to 92% of their original value and buy new gift cards for up to 35% off. The online marketplace features over 300 national and local brands. Retailers also benefit, as Plastic Jungle's web-based, secured exchange increases consumer purchasing power with the brands they love.

About Plastic Jungle

Plastic Jungle is the web's largest secured gift card exchange, giving consumers the choice and flexibility to convert their gift cards into other forms of spending power -- including online balances to use at the millions of merchants that accept PayPal; Amazon.com Gift Cards; and a variety of other payment formats. Plastic Jungle's patent-pending marketplace and payment applications aim to safely unlock the estimated $30 billion in unredeemed gift cards trapped in the economy for the benefit of consumers and merchants alike. Based in San Jose, California, the company is privately held, with venture backing from Shasta Ventures, Redpoint Ventures, Jafco Ventures, First Round Capital, Bay Partners, Harrison Metal and Western Technology Investment.

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