Plastic Jungle Introduces New Transaction Capabilities

SAN MATEO, CA--(Marketwire - May 8, 2012) - Plastic Jungle, the web's largest secured gift card exchange, today announced the introduction of new transaction capabilities, which will expand payout offering options for consumers through its network of acquiring partners. Plastic Jungle consumers can already exchange gift cards for PayPal credit or Amazon.com Gift Cards, in addition to payment by check. Plastic Jungle is now extending its exchange services to partners, enabling consumers to exchange gift cards for loyalty points and award miles with select financial institutions and companies.

Plastic Jungle has already partnered with U.S. Bank to pioneer the concept of exchanging gift cards for credit card reward points that can be redeemed for travel, merchandise and more. Building on this success, Plastic Jungle will continue to expand gift card exchange opportunities in the loyalty space as well as in payments and financial services, allowing for these conversion channels to be interchangeable.

"The popularity of secondary gift card markets has shown that great potential exists for the exchange of other common forms of 'virtual currency,' such as loyalty points," said Bruce Bower, CEO of Plastic Jungle. "Our recent partnerships with financial institutions signal the next step in the evolution of our business. We look forward to expanding our relationships and helping customers find value in their unredeemed gift cards and loyalty points."

Plastic Jungle helps unlock the estimated billions in unredeemed gift cards by allowing people to sell gift cards for up to 92 percent of the gift card value and buy new gift cards at their favorite brands for up to 35 percent off.

"As the oldest and largest gift card exchange, we know that our customers have shown increasing interest in receiving new kinds of value from their unredeemed gift cards," said Margaret Mackenzie, Head of Acquiring Channels for Plastic Jungle. "We're answering their calls for additional offerings that matter to consumers by creating new value and even more liquidity in the payments and loyalty markets."

About Plastic Jungle
Plastic Jungle (www.plasticjungle.com) 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; loyalty points with their favorite retailer or financial institution; Amazon.com Gift Cards; and a variety of other payment formats. Plastic Jungle's patent-pending marketplace and payment applications aim to safely unlock billions of dollars in unredeemed gift cards trapped in the economy for the benefit of consumers and merchants alike. Based in San Mateo, California, the company is privately held, with venture backing from Shasta Ventures, Redpoint Ventures, Jafco Ventures, Citi Ventures, First Round Capital, Bay Partners, Harrison Metal and Western Technology Investment.

For more information on partnering with Plastic Jungle to maximize consumer liquidity and spending power, please contact Margaret Mackenzie on margaret@plasticjungle.net.