Posted September 20, 2018 06:05:56 The first $1 in eBay gift cards will soon be gone.
The site announced Tuesday that its $1 million gift cards have been replaced with a new program that will offer gift cards worth less than $1.
The $1 billion eBay gift card program will be rolling out in November, but eBay’s announcement comes less than a week after a slew of major retailers, including Walmart, Best Buy and Target, announced they were joining the program.
In a blog post, eBay CEO Brian Cornell said the new program “will help retailers better leverage the value of their gift cards.”
The $200 gift card that’s been a popular buy-it-now option for some time, was discontinued earlier this month and replaced with the $50-a in-store offer.
The new program is designed to give cardholders the opportunity to “choose what they want, when they want it, at a price they love.”
“We’re excited to bring our gift card rewards program to more retailers than ever before, including some of the most popular retailers in the industry, such as Walmart, Target, and Best Buy,” Cornell said in a blogpost.
“We hope to see you in stores soon.”
The new $1 gift card will be available from the site’s website until Sept. 30, 2019, and will cost $200 per card, or $1 for a $50 gift card.
Cornell said he hoped the program would be a “game changer” for the site.