Gift cards are an almost inconceivably huge industry. It can serve as excellent holiday presents for hard-to-please loved ones and savvy shoppers alike.
If you have a wired gift card to sell or trade, here’s what you need to know to get the most out of it.
What is a Gift Card?
A gift card is a prepaid stored-value money card usually issued by a retailer (eg. Amazon, Google or Apple) to be used as an alternative to cash for purchases within a particular store or related businesses. Gift cards are also given out by retailers and marketers as part of a promotion strategy, to entice the recipient to come in or return to the store, and at times such cards are called cash cards.
Gift cards are a form of prepaid debit cards preloaded with funds for future use. There are generally two types of gift cards, open loop, and closed-loop cards. Both types can typically be used online and in person. Closed loop cards can generally only be used with a single merchant while Open loop cards offer the equivalent of cash that can be used at any merchant where the payment card processor is accepted.
Common types of gift cards in Nigeria.
1. Amazon Gift Cards
Amazon sells (almost) everything under the sun and this makes Amazon gift cards an easy gift option. When you redeem an Amazon Gift Card to your account, the funds will be stored in Your Account and automatically apply to your next eligible order. The good news about selling your Amazon gift cards is that you can sell an unused or partially used gift card. As long as the balance is accurate, buyers are willing to buy gift cards using a variety of methods.
2. iTunes Gift Cards
An iTunes gift card is a pre-purchased credit for Apple’s iTunes store. The iTunes store is Apple’s media and software marketplace, which is where you can buy music, movies, apps, and more. It is not the same as the Apple Store, where you can use Apple Store gift cards to purchase physical items like iPhones or MacBooks. Your iTunes gift card may be a physical card or a digital card delivered via email. You can only redeem your card in the same iTunes store from which it was purchased.
3. Google Play Gift Cards
Google Play is not only the largest app store in the world but also a music subscription service, a bookstore, and a video store. This makes Google Play gift cards is an excellent gift, but that’s not the limit of their use. Once the gift card has been redeemed, you can use it for apps, games, movies, TV shows, music, and books. As a reminder, the Google Play Store is different from the Google Store: Google Play gift cards cannot be used to purchase physical products from the Google Store.
Websites for trading gift cards in Nigeria.
There are plenty of places to buy or sell your gift cards. Most are online, and each website is a little different.
Patricia makes it easy to Buy and Sell digital currencies such as Bitcoins, Perfect Money, and Gift Cards. Patricia is more than just trading cards, the platform offers a world-class experience for your day-to-day transaction. The innovative service also allows individuals to swap gift cards for cash while also giving them the opportunity to send gift items to loved ones in the United Kingdom, United States of America, Canada and some selected African and European countries.
Cardtonic is a trading platform duly registered under Nigeria’s Corporate Affairs Commission as Cardtonic Trading Services. On Cardtonic, you can sell iTunes Gift Card, sell Amazon Gift Card, Steam Wallet, GooglePlay, Walmart e.t.c. Cardtonic takes pride in giving customers the best of gift card rates and at the same time never limit their choices to the norm.
3. KingCards NG
KingCardsng is an exchange platform where you can convert your gift cards to Naira easily. Kingcardsng is currently one of the most trusted online trading platforms for gift cards in Nigeria. Not only for they accept the more popular iTunes and Amazon gift cards, you can also sell Google Play, Steam, Walmart, and other gift cards on this platform. The platform takes pride in giving customers the best of satisfaction for every transaction.
Paxful, like most trading platforms out there, offers owners of unused gift cards the chance to sell their gift cards for bitcoins. According to the platform, customers are allowed to trade gift cards including Steam cards, iTunes gift cards, Amazon gift cards, Walmart gift cards, Google Play gift cards, and a host of others.
As with any product, the more demand, the more you can ask for it. Gift cards for major retailers such as Amazon, Apple, and Google tend to sell on the marketplace for 80-95% of their value.