What are the Most Used Gift Cards in Nigeria? – The massive rise in the usage of Gift cards and the adaptation to Financial technology generally in Nigeria has been amazing. When Nigerians realized that there was a way to make lending, personal finance, and payments easier through technology they opted for it. This has given our conventional financial institutions a run for their money
Contrary to popular opinion, this rise had a slow build-up. It did not happen overnight. I would agree that previously, most people in Nigeria just stumbled upon or found themselves with gift cards which could have been as a result of winning a giveaway on social media platforms like Instagram or a gift from friends or family.
There is now a deliberate purchase of gift cards in Nigeria. Unlike before, brands are opening up and spreading their reach to Nigeria, either with a Physical store or a provision for Nigeria in their online store. For example, Apple recently appointed our very own Teju Ajani as the Managing Director of their company in Nigeria. The role was advertised early this year and she got it. This would entail her to oversee sales and business development in the country amongst various other things of course. Now, there is a use for the majority of these big brands’ gift cards in the country.
Gift cards have also proven to be multi-functional and diverse. There have been a couple of gift cards that have done extremely well in Nigeria since the rise, This has increased their demand and in turn their monetary value when considering resale.
What are the Top Gift Cards in Nigeria Currently?
In no particular order, here are the top gift cards you should consider when thinking of purchasing gift cards.
Steam Gift Cards: Steam is an online platform used for creation, interaction, and playing games. It is the largest distribution platform for PC gaming — also available on iOS and Android devices.
Steam gift cards are used to purchase paid games, software, and hardware on the steam platform. Their gift cards have a resale value of about 80- 85%. Meaning if you own a $100 steam gift card and you want to resell, you would get a cashback from $80 – 85.
iTunes Gift Cards: Itunes gift cards can be redeemed to purchase all applications which are not free on the iTunes store. Applications such as; Music, Movies, books, podcasts, etc. They serve as alternative payment methods other than your debit or credit cards.
Amazon Gift Cards: This is a very good card to resell, due to the popularity of Amazon and their various locations, these gift cards are mostly in high demand. Their gift cards can be used to purchase every item either on their online or physical store. It has a whopping resale value of 92%. You would get a higher value for your gift card if you trade it with a cash receipt.
Google Play Gift Cards: This is a very popular card in Nigeria and across the world. Google play store is the official application store for all Android devices. GooglePlay gift cards are used to pay for applications on the Play Store. GooglePlay gift cards have a resale value of 72%. In the aspect of resale, if google play is sold on the right platform, the rate of a google play card can be as high as 350 per unit.
Sephora Gift cards: Sephora Gift cards have a current rate of 320 for $300 cards and above, and 315 for $100-299 cards. You can make some big bucks if you choose to resell these cards.
Razer Gold Gift Cards: Razer Gold is the unified virtual credit for gamers worldwide. When redeemed, these gift cards can be used to purchase tons of games on the platform. Considering the rise of gaming PCs in recent times, no doubt it’ll be in better demand in the coming motnhs.
American Express Gift Cards are prepaid cards that can be used for in-store and online shopping at any store that accepts AMEX as a method of payment. In addition to all the existing services, now you can also use American Express Gift Cards to buy bitcoins on Paxful.
There are still a few cards that I did not mention, but very good investments as well such as; Footlocker, eBay, Nike, etc.
In as much as it is great to possess gift cards with the highest rates, it is pertinent to sell on the right gift card trading platform. Otherwise, you are at risk of losing your cards or consistent undervaluing of the cards. Not only for security but also for value.