How to start a Unique Gift card trading platform in Nigeria

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The data shows that most of the gift cards held by consumers have not been fully utilized. How to cash them?

Have you ever wondered if you are likely to receive a gift card in 2013 when it is about to end?

According to the National Retail Federation, sales of online gift cards are likely to reach their highest ever in this Christmas shopping season, and about 80% of consumers said they have plans to buy gift cards.

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However, there are data that show that most of the gift cards held by consumers are not fully utilized. Therefore, cashing out or exchanging gift cards with other brands of gift cards has become the choice of many people. In response, Lauren Goode, author of AllthingsD, a well-known technology media in the United States, combined with his own experience to introduce us to the current status of the major US gift card exchange platforms.

Personal experience

My grandmother gave me a baby shop card during the holidays, apparently suggesting that I had a baby as soon as possible (I have no children yet or are pregnant). However, this shopping card store does not offer gift card cash redemption services, so what should I do?

For this, the exchange sites I use include Cardpool.com, giftcardstrade.com, CardCash and the newer Raise.com. These platforms share two common characteristics: They allow you to sell gift cards you do not need, and also allow you to buy other people’s gift cards at a lower price. If you use Google (microblogging) search gift card redemption platform, you probably will get more results, including GiftCardRescue.com, ABCGiftCards.com, GiftCardGranny.com or even just closed down PlasticJungle.com.

However, most of these site design is very mediocre, only Raise.com’s interface design is refreshing, but also very easy to use. Of course, more important than the beauty is the credibility of these third-party trading sites and fees.

Can I get full payment?

See here, your heart will certainly have a question, that is, I can all the money to redeem their gift card it?

Unfortunately, the answer to this question is “No.” Moreover, most of these sites charge a percentage of their commissions through successful deals.

For Raise.com, for example, the site allows users to set a price for a gift card they want to sell (no more than the gift card amount itself), but Raise.com charges the user a $ 1 admission fee before it becomes available. Raise.com will also take a 15% commission from the transaction amount if the card is eventually sold.

On the other hand, CardCash website will buy your own gift card, the acquisition amount is about 65-90% of card amount (mainly based on market conditions). For example, on CardCash I sold a $ 25 Dunkin ‘Donuts card for $ 20.

Can I still sell it if my gift card has only $ 0.67 left?

Some gift card trading platforms set a bottom line for the gift card amount, with Raise.com’s bottom line being $ 10 and Cardpool the lowest $ 25. However, CardCash does not have this rule, so you can sell almost any amount of gift cards on this platform.

Can I still sell online if I own a local restaurant (non-restaurant chain) dining card which is only locally available?

Most gift card trading platforms only accept national or regional branded gift cards, but Raise.com does not have such restrictions. To be sure, this gift card market will certainly not be good.

I need to personally go to the post office to send a gift card, and pay their own postage?

Some gift card trading platforms accept electronic cards or online exchange coupons, but this depends primarily on whether the card issuer accepts the card. Otherwise, you can only go to the post office to mail the gift card and pay the postage.

How will I get cash for gift card exchange?

In general, there’s a deadline between sending your gift card and getting cash, so you need to be more patient. After receiving the gift card from the other party, you may also need to wait 24 hours to a week to get the money. The other party can pay by check or via PayPal. You can also opt back through the Amazon gift card if you wish .

In fact, CardCash will give you a 5% discount if you choose the Amazon Gift Card.

However, if you do not receive payment from each other after you sell your shopping card, or you accidentally buy a useless shopping card, only some of your shopping card trading platform has a perfect settlement mechanism and will give you a certain amount of time You refund.

I bought a bunch of iTunes Gift Cards this holiday season. Can I return it to the Apple Store?

not that simple! Apple’s own policy clearly states that consumers can not be returned or iTunes Store gift card on Apple’s Web site at Apple, some cases can only exception (if you’re in the U.S., then, that “some cases” will be based on your state Different from each other). And, Amazon’s gift cards follow a similar policy because the company also makes it clear that consumers are not able to resell or redeem gift cards (again, with the exception of some laws).

The fact is that at present there are only a handful of states that allow consumers to travel to merchants for cash in the absence of a gift card balance on hand, while the balance within the card generally needs to be exchanged for less than $ 10.

How can I avoid being cheated on the gift card trading platform?

Raise.com said the site will be validated when the user submits the gift card to the application or mail; CardCash said that it will be the balance of each gift card transactions by platform; Cardpool said the company has the gift card security and security aspects Put in a lot of money.

However, it is not necessarily a bad thing for consumers to worry about buying a gift card online. The National Retail Federation believes the best way to prevent fraud in gift card transactions is to avoid using third-party exchanges, as some exchanges do not verify the authenticity of the cards.

“If you insist on using a gift card trading platform, we recommend that you fully investigate it before use and make sure you are familiar with the platform’s policies and verification mechanisms.” Kathy Grannis, a spokesman for the National Retail Federation, Finally said.