What Is a Gift Card Used For? All You Need To Know

What Is a Gift Card Used For? All You Need To Know

With all the hype and information flying around about gift cards and all the goodies they give to people and their friends and family; everyone, especially those who have no idea of what it is; keeps asking if the shenanigans are worth it.

In this article, we get to tackle the question: what is a gift card used for? Check out all you need to know about the subject matter. For the benefit of the layman, gift cards are store vouchers preloaded with a specific amount of money. They are prepaid payment methods that offer flexibility for both givers and receivers. With the above, we can see what gift cards are, but let us also get to the important part of our discourse: 

What Are The Types Of Gift Cards?

There are three gift card options for you. They include:

  1. Single-store gift cards are gift cards only usable at a specific store like a music store or a gaming platform. Good examples are Apple Gift cardsNike Gift cardsRazer Gold gift cards, etc. 
     
  2. Multi-store gift cards offer more options, allowing purchases at several stores within a chain, like department stores or restaurant groups. Some popular examples of multi-store gift cards include the Visa Gift Card, Amazon Gift Card, and American Express Gift Card etc.
     
  3. Generic gift cards are great for flexibility as they can be used at a wide range of retailers, online and in-store, depending on the card issuer.  Visa Gift Cards and American Express Gift cards fall under this category.

What Is A Gift Card Used For?

Gift cards are used for purchases at participating stores or online retailers, making them popular for gifting and personal spending. Specifically, they perform two main functions which are: as a gifting option and a convenient payment method.

As A Gifting Option

Gift cards are a great choice for people who want to give to their loved ones but do not know how to pick the perfect item. Gift cards give them the flexibility to choose exactly what they want.

As A Payment Method

Gift cards are more than just convenient shopping tools. While they function like makeshift debit cards at participating stores, their usefulness extends beyond the checkout line. Here's a look at the versatility of what a gift card is used for:

  • Employee Incentives: Organisations often utilise gift cards as a form of employee reward. They can be a thoughtful way to show appreciation for a job well done, offering staff the freedom to choose something they truly desire.
  • Promotional Tools: Businesses leverage gift cards as strategic marketing tools. They can be used to attract new customers by offering them incentives or rewarding existing loyal customers for their continued support.
  • Cash Conversion Platforms: FlipEx helps you breathe new life into your unused gift cards. For individuals who have gift cards, FlipEx provides an avenue to convert them into cash (Naira in this case) to address more pressing needs. This adds a layer of flexibility and value to gift cards, allowing them to be a more versatile financial tool.

By understanding these additional uses, gift cards become a more dynamic tool for both businesses and individuals.

Where Can You Use Gift Cards?

You can make use of gift cards in the following places: 

  1. At retail stores, for payments ranging from electronics to clothes.
  2. At restaurants for dinner and other food items or services.
  3. At petrol stations to conveniently fill up your tank.
  4. Internet retailers to purchase with sizable possibilities, goods and services online as some sites let you use gift cards for payments.

How Can I Convert My Gift Cards to Naira?

Here's a concise breakdown of how you can easily convert gift cards to Naira on FlipEx:

1. Download & Register: First, download the FlipEx app on either Google PlayStore or Apple App Store and create a free account. If you already have a FlipEx account, just sign in.

2. Sell Your Gift Cards: Locate the "Sell Gift Cards" section at the bottom of the home page

3. Choose Your Card: Select the specific gift card type you want to convert (e.g., Sephora, Amazon, Apple, Nike).

4. Enter Details: Carefully enter your gift card number, denomination, and any required details.

5. Review & Confirm: FlipEx will display the exchange rate and fees. Confirm if you're happy with the offer.

6. Receive Naira: After confirmation, your funds will be deposited into your FlipEx Wallet

Wrapping it Up

Now that you have explored what a gift card is used for, you can see that they are more than just a standard option for gifting. They are a versatile tool for both givers and receivers. When given as presents, gift cards offer ease and flexibility, allowing the recipient to choose exactly what they want. They provide spending power at various businesses, eateries, petrol stations, and even online, functioning similarly to debit cards at participating establishments.

With this versatility in mind, FlipEx is here to help those who prefer to convert gift cards to Naira rather than use them in stores or online. As the leading and legit gift card trading platform, FlipEx offers the easiest, most user-friendly, and cost-effective gift card exchange services. Connect with us today and enjoy these benefits on the go with our mobile platforms for Android and Apple devices, or your computer via our web platform.

We look forward to trading with you!


 


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