Have you ever been in a situation where you want to give someone a gift but don’t know what to buy? This could be because you can’t determine what the receiver would like. Apart from that, you might not have the time to go gift shopping for some reason. As such, getting someone gift cards can be better than regular gifts.
Gift cards have existed for years, but the paradigm shift to the digitization age has given room for the popularity and adoption of gift cards to thrive as a viable digital asset. Today, there are different kinds of gift cards serving specific purposes. This means there is a particular gift card for everybody, making it the best-fit gift for people.
What Are Gift Cards?
A gift card is a prepaid card with a stored value that can be used to make purchases at retail stores. These cards exist in forms and denominations, which different stores issue to make the purchase seamless. This harps on their use as a payment method such that you redeem them to buy products on the official gift card store.
Let us separate and analyze the two words to make this easier to understand. Gifts are voluntary items or services given to a receiver without expecting payment to show you care. On the other hand, a card is a thick piece of paper (could be plastic) that something is printed on.
Now let’s put the two words together and make them make sense. Gift + Card = A card with a redemption code and money loaded in it to buy gifts. Some little Math to solve the gift card equation. Gift cards or gift vouchers are prepaid cards used as a substitute for regular gifts.
How Do Gift Cards Work?
There are two types of gift cards, Open-loop and closed-loop gift cards. We must understand these two gift card types to know how they work.
Open Loop Cards
Open-Loop cards are the types you can use to shop in any store the brand is accepted. Examples of these cards are Visa and American Express gift cards. These brands already provide debit card payment options, which are accepted in many stores worldwide. Anybody with the gift card versions of these brands can shop for any item in stores they are accepted.
These types are tied to a particular brand. For instance, Google Play and iTunes gift cards, etc. For example, the Google Play gift card can only be used to buy apps, games, and whatever is up for sale on the Google Play Store. Same with the iTunes gift card.
Both Open-Loop and Closed-Loop cards have online and physical gift cards. Physical gift cards are the types you buy from over the counter in a store. Digital gift cards only exist in digital format. You are given a code online to purchase digital and physical items.
Reasons Why Gift Cards Are Better Gifts
Gift cards have a range of benefits than regular gifts when you give them to someone because their design is relatively tailored to a purpose.
It eliminates the embarrassment of getting the wrong gift. Imagine going out of your way to get a gift for someone, and it’s not what they like. For instance, ladies love Sephora gift cards because they can use the card to buy fashion and beauty products in the Sephora store. Therefore, giving this gift card to ladies would earn you satisfaction and appreciation. Also, gaming gift cards will be the best gift for your loved ones that like playing video games.
They are easier to buy and deliver than regular gifts. eGift cards can be sent directly to receivers’ email; they can shop online.
3. More Memorable
It creates a longer-lasting memory than regular gifts. This is because it grants the receiver the freedom to get whatever they like. When people get exactly what they always wanted, they feel fulfilled. This will leave a better memory than giving them what they might or might not need.
4. Sell Gift Cards
They are also a good source of redeeming cash or cryptocurrency. Originally not designed for this, a few online platforms have made it possible. If the recipient doesn’t use the gift card, they can sell it for good rates on a safe platform. You can trade them for cash and cryptocurrencies like Bitcoin and USDT. In this instance, Prestmit is one the best gift card trading platform in Nigeria and Ghana to buy and sell various gift cards
Frequently Asked Questions (FAQs)
Why Is Gift Card The Best Gift?
Gift cards are created for specific functions and are not generic like other gifts. Therefore, you can be sure of earning your recipient’s satisfaction when you give them a gift card. This is because you would have understood what your recipient likes, hence getting them the gift card that would allow them to get their preferred products.
Moreover, gift cards can even come in cash when your recipient decides to sell the card for cash. This makes the functions of gift cards all-encompassing.
What Is The Difference Between A Gift Card And Regular Gifts?
A gift card is a digital asset with real-time cash value. This means that your gift card can be liked to your ATM holding cash. For every gift card, there is a value it holds. Meanwhile, other gifts do not have a real-time value that enables people to convert them to their true value. In addition, some gifts like greeting cards are o no value closer to gift cards.
Gift cards will continue to be preferred to regular gifts because of their unique nature. So get yourself a gift card and show someone you care. If, for some reason, you aren’t giving it out as planned, you can always sell them.