Gift Cards have an outstanding edge over the use of cash payments for both in-store and online transactions. The benefits both businesses and customers of businesses derive from the use of Gift Cards can never be exhausted. Companies sell Gift Cards for brand awareness, to increase their customer base and also increase revenue. Customers, on the other hand, enjoy more secure, cheap transactions and easy access to the brand retail stores or its affiliated stores.
However, not everyone is interested in shopping with Gift Cards, especially when the Gift Cards do not come from their favourite store where they can shop for their favourite items. In order not to let the Gift Card go to waste, another alternative to utilising the Gift Card is to sell on a Gift Card trading platform. Gift Cards can be traded for cash, some other platforms can also pay for your Gift Cards with cryptocurrency.
Gift Card trading is gradually becoming more common in Nigeria, and no doubt, more and more people will be exchanging unused gift cards for cash in 2022. Exchanging your unused gift cards should not be difficult; the challenge is in locating the right app to assist you in carrying out that transaction smoothly.
Although there are many apps in Nigeria that allow you to easily redeem or sell your Gift Cards, the list will be limited to just the best app for selling, redeeming, or exchanging your gift cards for instant cash and crypto in this article.
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What is a Gift Card?
Gift cards are pre-loaded prepaid debit cards that can be used to make purchases or meet other financial obligations. They are mostly given as gifts or rewards to friends and family, as the name implies.
Gift Cards are commonly programmed and sold in two formats: physical plastic cards and e-Gift Cards.
Many companies that sell these Gift Cards ship the plastic cards to the registered location within 2-3 days of purchase. The e-Gift Cards, on the other hand, are delivered to the recipient’s email address within a few minutes of placing the order.
Most Gift Cards have monetary denominations ranging from $5 to at least $500.
There are two types of gift cards: Closed Loop Gift Cards and Open Loop Gift Cards.
Closed-loop Gift Cards are frequently promoted by retailers. It allows cardholders to buy anything from that particular shop. Reloading these cards is uncommon, they’re only good for one use. A closed-loop card is no longer valid once the money on it has been spent.
An open-loop Gift Card, like a debit or credit card, can be used anywhere that accepts that card. An open-loop Gift Card has the advantage of being reloadable, allowing customers to add cash whenever they desire. Open-loop Gift Cards have the same value as cash.
What Are Gift Cards Used For?
Gift Cards are beneficial to both companies and the customers who use the Gift Cards. The uses of Gift Cards are numerous, hence not limited to just the following;
- Seasonal Gifting: Gift cards have proven to be the best gifts to give during the holiday season. Instead of buying gifts, you’re not sure they’ll like, consider sending them Gift Cards. This will also assist them in making better decisions.
- Increasing Brand Awareness: Companies use the sale of Gift Cards to attract customers to their brand. The logo on the card advertises the business without even saying anything about it. More awareness is created as the Gift Card is given to people and redeemed at the store.
- Purchases Made Online and In-store: This is the primary reason Gift Cards were created in the first place. Gift Cards can be used to make payments for items purchased in-store or online, instead of cash.
- Earning Cash or Crypto: This option is appropriate for folks who don’t want to buy anything from the shop or whose preferred products aren’t available there. Gift cards can be exchanged for cash or cryptocurrency. The money can be used to purchase a favourite gift item.
Best App To Trade Gift Card In Nigeria
There are a plethora of gift card trading apps available online. It’s understandable if gift card holders are still hesitant to sell their cards or are unsure which app is the most trustworthy and reliable. When consumers try to swap their gift card for cash via the improper app, they face the following difficulties:
- Exchanging Gift Cards at an extremely cheap rate/cost
- Trading losses with fraudulent merchants
The concern is, how and where can I convert my gift card into instant naira without getting cheated and while still getting the best deals?
The best app to trade any Gift Card in Nigeria today is the Prestmit mobile app. The app is reputable for the services it offers in making Gift Card trading, a stress-free experience. Prestmit Gift Card trading app is very popular in Nigeria for its unique features which include;
- Good User Experience and Interface: The Prestmit app is user-friendly. To understand how the software works, you won’t need extra tutorials. The app’s user interface design makes it simple to navigate and trade on.
- Live Chat: Prestmit allows clients to communicate with customer service representatives and file complaints using the app’s live chat function.
- Security: Everyone dreads purchasing an app that exposes their personal information to scammers and other cybercriminals. Prestmit is a security-focused program that can withstand any cyber-attack.
- Best Rates: Prestmit offers the most competitive prices on the market. The Gift Card rate calculator is a function of the Prestmit app. It’s automated and you can use it to keep track of the current rate of numerous Gift Cards in Naira.
- Instant Payment: Unlike other gift card trading apps, Prestmit allows you to request a withdrawal and receive your funds in less than five minutes. When it comes to accepting Gift Card, Prestmit is known for its adaptability. Even if the gift cards are used abroad, you can sell a large number of them.
- Multiple Payment Options: Prestmit does not restrict Gift Card merchants to accepting only one type of payment. Prestmit app users can be paid for their Gift Cards with cash transfers (Naira and Cedis), Bitcoin, or USDT.
How TO Sell Gift Cards On Prestmit In Nigeria
Trading Gift Cards on Prestmit is a simple and clear process. It entails the following steps:
- Sign up for the app on the Google Play Store or Apple Store.
- Choose the type of gift card you have and the amount you want to put on it.
- Select a method of payment: You can be paid in Naira, Bitcoins, Cedis, or USDT when you trade Gift Cards on Prestmit.
- If you select BITCOIN or USDT, you will be asked to input your payout address, which will be used to transfer your payment once the transaction is complete.
- Send the transaction for processing.
- Allow a few minutes for the trade status to be updated by an administrator.
- When the transaction status changes, you will be notified by push notifications and email.
All transactions are completed instantly. Naira payments can be made at any Nigerian bank. MOMO (Mobile Money) or any other financial institution can accept Cedis payments.
Given that the Prestmit app is available on both the Google and iOS stores, as we’ve seen. By making use of this application to sell your gift card, you can be sure of a satisfactory, quick and secure transaction.