Gift Card Reselling in Nigeria – How Does It Work?

Gift cards have grown in popularity in Nigeria over the decades. Many companies and individuals now turn to it as an alternative for gifting. Others use it to purchase items from foreign brands to reduce the stress of currency exchange. But have you ever wondered how it is so easy to get these vouchers, especially in Nigeria? Well, that’s where gift card reselling in Nigeria comes in.

At face value, the term gift card reselling means selling a gift card you own but do not want anymore. But on a deeper level, it refers to big online platforms buying from manufacturers and selling to consumers in retail quantities.

Today, we’ll dive into what gift card reselling is in Nigeria and how it works.

What is Gift Card Reselling?

Gift card reselling refers to buying gift cards from manufacturers and selling them to businesses or individuals in bulk.

One may define the term as selling unwanted or unused gift cards on enabling platforms. While they’re not correct, they’re not entirely wrong either. However, in this context, gift card reselling is the purchase of gift cards in large quantities to sell them to companies and individuals at discounted prices.

Gift card resellers are companies or platforms that buy large quantities of gift cards from different manufacturers to sell to businesses, companies, or individuals. They ease the process of acquiring a gift card by eliminating the hassles involved in direct purchases from the retailer.

Those who patronise gift card resellers are mostly businesses or companies that may want to give different types of gift cards to their employees or individuals who wish to buy.

The entire idea of gift card reselling is based on gathering gift cards in large quantities and selling them as a retailer to anyone who needs them. Think of gift card resellers as wholesalers in the chain.

How Did Gift Card Reselling Start in Nigeria?

One major challenge Nigerians have had for decades is payment for products and services from merchants in other countries. Paying international brands who use dollars with Nigerian Naira has always been cumbersome. Over the years, the ever-increasing exchange rate has made it even more difficult. Gift cards serve as an easy solution to the problem.

Gift card resellers saw the challenge and decided to save Nigerians, both individuals and companies, the stress.

Imagine that you wanted to buy some goods from Amazon as a Nigerian. The cost of paying for every item in Naira will be higher. More concerning is that Nigerian debit cards no longer work for online payments. Getting an Amazon gift card would solve this problem.

Buying an Amazon gift card from Amazon will still require payment in dollars. That still comes with the payment challenge. So, gift card retailers (wholesalers) offer these gift cards at reduced prices in your local currency. With it, you can shop and pay for products in other currencies, especially dollars, with minimal stress.

How Does Gift Card Reselling Work in Nigeria?

In Nigeria, gift card reselling is done on digital trading platforms that enable the buying and selling of gift cards. Some are peer-to-peer platforms (p2p) where you sell directly to another user who needs what you have and is willing to pay in your preferred payment mode.

Based on the context of this article, gift card reselling means selling to individuals and companies as a platform. So, how can you buy gift cards from these platforms?

Another way to look at it is by selling unused gift cards as an individual. So, how can you sell your gift cards for cash?

We’ll consider these two angles to ensure you can comfortably resell your gift cards or buy for gift card resellers.

How to Sell Gift Cards for Cash in Nigeria

• Chose a platform, e.g Prestmit
• Create an account to get started. If you’re an existing user, sign in.
• Navigate to the selling option on your dashboard and select the Sell Gift Cards option.
• Follow the prompts on your chosen platform to begin the process.
• Upload details of your gift card as directed. This will include the gift card number, usually 14-16 digits long, and your PIN. You may be required to upload a picture.
• Set your preferred payment method. It could be in Naira or crypto, depending on the platform.
• Follow the prompt to complete the transaction.
• You will receive the payment for your gift card in your local currency after a few minutes.

Note: The selling process on P2P platforms is different. You would have to create a selling offer or buy from someone who has created one.

How to Buy Gift Cards from Gift Card Resellers in Nigeria

Remember that gift card resellers are digital trading platforms. Follow these steps to buy a gift card on a reselling platform.

• Choose a  trustworthy platform, e.g., Prestmit.
• Register for an account or sign in if you’re an existing user.
• Navigate to the Buy Gift Cards section on your dashboard.
• Select the type of gift card you want and the category. Enter the number you want and specify the denomination.
• Choose your preferred payment method. Some platforms will let you pay with cash or crypto.
• Enter any other necessary details required of you. Follow the prompts to complete the transaction.
• Your gift card details will be sent to your email. If you’re gifting it to someone, the platform will send the gift card details to their email address.

Best Platforms to Resell Gift Cards in Nigeria

There are several gift card retailers in Nigeria. They provide access to numerous brands worldwide and also allow users to sell unused or unwanted gift cards. These are 5 of the best.

1. Prestmit

Prestmit is the leader of the gift card resellers pack. It’s a top digital trading platform in Africa, recognised as the platform with the best user experience.

On Prestmit, you can buy gift cards from big brands such as Amazon, Sephora, Target, Walmart, Google Play, iTunes, Razer, Steam, Nordstrom, and many others. You can also sell gift cards you have no use for and get paid in Naira or crypto. Prestmit offers the best rates on the market per time. Check the Rate calculator to see live rates right now.

You get to enjoy lightning-fast transactions, high security, and swift payments with Prestmit. You can also enjoy other functions, like airtime-cash conversion, bill payment, and crypto off-ramping.

2. Cardvest

Cardvest is a simple-to-use gift card exchange platform on which you can buy and sell gift cards at great rates. It is strictly dedicated to gift card trade, guaranteeing quick transactions.

3. Paxful

Paxful is a peer-to-peer platform that enables the buying and selling of gift cards. It is one of Nigeria’s biggest gift card resellers, with thousands of users. This makes it easy to find a  seller with what you want or a buyer for what you offer.

4. Giftcardgranny

Gift Card Granny is another big online gift card marketplace. Although it is based in the United States, users can safely trade their gift cards in Nigeria.

5. Nosh

Nosh is another reliable gift card marketplace where you can trade gift cards from several brands. It’s available to Nigerians 24/7 with high security and great rates.

Benefits of Gift Card Reselling in Nigeria

Gift card reselling has several advantages, whether from the platform or as an individual selling unused or unwanted gift cards. Some of them are:

• It enables easy international transactions.
• It’s an alternative way to make use of unwanted gift cards
• Companies and businesses can easily gift their employees various gift cards without buying directly from the manufacturers.
• It promotes brand awareness for the gift card brands.

Conclusion

Gift card reselling in Nigeria can mean two things. One is the purchase of large quantities of gift cards from different brands to sell at discounted prices to individuals and companies. Another definition is when an individual sells an unused or unwanted gift card for cash.

Gift card resellers are many in Nigeria. They’re those platforms that facilitate the buying and selling of gift cards. These platforms solve one prevalent problem in Nigeria: the difficulty of making international payments.

You can patronise any of the top platforms listed in this article; however, the best is Prestmit. Register now to start enjoying the juiciest rates on the market.