The Booming Trade of Unwanted Christmas Vouchers

Not happy with the Christmas gift voucher? There is a lively trade in it

Unwanted Christmas Vouchers Drive a Booming Trade

An Efteling voucher for someone who doesn’t like amusement parks, a Bol.com voucher for someone who prefers to buy in a store. With gift vouchers in a Christmas package, employers unknowingly saddle their staff with things they do not want. More and more people are looking for options to exchange or sell their gift vouchers for money via Marktplaats and special websites.

The gift voucher market now has a size of approximately 1.7 billion euros per year. “And this is the busiest period for the industry,” says René de Wit of the Trade Association for Gift Cards Netherlands.

For sale: my Christmas present

Not all of those vouchers are actually issued. There are a lot of advertisements on Marktplaats from people who want to get rid of their vouchers: credit cards for wine shops, holiday parks, concerts, sustainable clothing or amusement parks. They are often placed this week and offered for a significantly lower price than the credit value.

Exchange

Terbruggen saw a gap in the market and started the company Wissel.nl, where people can exchange their gift voucher for money or another gift voucher. “90 percent want money. Many people really need it.” His customers would rather have a little more in their bank account to pay for groceries than a voucher for a holiday park. “For example, who sees that people receive such a voucher when they switch providers or energy suppliers.”

Money laundering?

Business is going well. “It is now really the busiest time of the year,” says the spokesperson. “We accept about 50 to 100 cards a day around Christmas.”

To prevent criminals from abusing his services to launder money via gift cards, Terbruggen has taken all kinds of measures. “We do not accept cards purchased with cash, cryptocurrency or credit cards. And we only pay out to bank accounts in the Netherlands, Belgium, Austria or Germany.”