Stories I Like To See: Who Else is Profiting from Money Mart Gift Card "BuyBack"?

I can’t write every story there is to tell, but I can use my personal blog to write what questions I hope to see answered in someone else’s story.

The Ontario NDP is calling on the government to regulate Money Mart’s Gift Card purchasing business, saying the 50% Money Mart charges as a fee is an attempt to get around regulations limited payday loan interest and fees charged.

See Question Period video here:

There are already numerous media stories about this story. Thus far, none have answered the question: How does Money Mart sell the gift cards to make their profit, and what is the involvement of the gift card industry?

Money Mart is making its profit somewhere. I can’t see a stable market for buying girt cards except by who issued the card.

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