An online solution to unwanted gift cards

A new Canadian company lets people trade their gift cards for cash and then sells them to others at a discounted price.

Gift cards are a multi-billion dollar industry in Canada, but for some, the cards are never used.

Some people simply forget they have them or they're just not suitable.

Consumer Reports Magazine reported that in 2009 Canadians spent about 6 billion dollars on gift cards.

Brent Tkachuk manages a Boston Pizza in Regina.

He said gift cards make for big sales during the holidays.

"Our store does about 500 dollars a day in sales."

But the magazine also said that about one out of four gift cards go unused.

That's about a billion dollars wasted every year.

A new Canadian company lets people trade their gift cards for cash — and then sells them to others at a discounted price.

 It's all done on the company's website called cardswap.ca.

Krista Stevens checks the site everyday.

"I'm a new mom at home and so any way we can save money is good."

People just have to type in the store the gift card is from and its balance and site will give them a quote.

If the quote is accepted the website sends a cheque to the seller.

The gift card can then be bought by other Canadians.