Ever wonder what happens to social coupons that get purchased, but never redeemed? CoupFlip.com is providing a second life to neglected deals. The site buys and resells unused social deal coupons and it’s already gaining traction in the U.S.
To offload a coupon, sellers download a PDF of the deal from their coupon site, then upload it to CoupFlip. Payment then comes via Paypal or in a mailed check. People who buy the coupons after that will save a couple dollars or so off what they would have paid by buying it directly from ‘group buying’ sites like Groupon or LivingSocial.
However, if you look closely at LivingSocial’s Terms of Service, it expressly forbids the reselling of their coupons. But will LivingSocial really go after their own customers? After all, LivingSocial gets paid whether or not their coupons get redeemed.