TODAY’S PATENT – GIFT CARD CONVERSION AND DIGITAL WALLET 

Gift card conversion and digital wallet (US8701982B2) was invented by Steve Yankovich, Ryan Melcher and Robert Dean Veres and patented by USPTO on April 22^nd, 2014.

The widespread use of gift cards and stored value cards has become increasingly popular, offering a convenient and secure alternative to carrying cash. However, managing multiple gift cards, each redeemable only at specific merchants, can be burdensome. Additionally, individuals may forget about the residual value remaining on a gift card after partial use, leading to potential loss of funds.

The invention involves a method and system for converting gift card value for mobile device use. It starts by listing available gift cards for exchange in a digital marketplace. Then, a gift card’s digital image is transferred from one user to another, and vice versa, enabling usage on mobile devices. Finally, both gift cards are listed for exchange in the marketplace.

This enables greater convenience and flexibility in managing and using gift card balances, as well as facilitating exchanges between users in a digital marketplace.