Gift card trading is a great way to send cash safely… and the most prominent trailblazer in Nigeria is set for expansion.
Recently, the world of online gift cards has gone into overdrive. The onset of the Covid-19 pandemic has seen company after company go through the painful process of switching to a digital retail space… and all this traction has seen the gift card spiral out of control.
We all want to ship each other presents when we can’t see each other. Families kept apart by lockdown have sent cheque after cheque through the mail. Money has gone missing; gifts have gone away, but the online gift card? That has remained a constant.
It only takes a savvy company with some technical know-how to take those gift cards and convert them into real cash.
Who are GiftCardsToNaira?
GiftCardsToNaira is the innovative company behind the idea that you could use gift cards to replace cash. They operate a well-placed website and app that homes in on the trading of gift cards for real money.
No, it’s not a con; no, it’s not a trick. All that happens is that you log on, trade your gift cards in, and get paid. It became prevalent since its inception back in 2017. People who receive unwanted gift cards for birthdays and holiday gifts can now trade them in and get real money, instead.
GiftCardsToNaira trades the cards for Naira, for Bitcoin, or Ethereum coins. They accept everything from Amazon to iTunes and help you profit from your unwanted gift.
The Expansion
So far, GiftCardsToNaira has been concentrating the focus of its efforts in Nigeria and Ghana. However, this week, a spokesperson for the firm said they looked on track for expansion into other areas of Africa within their 5-year plan.
Expansion out into other areas of Africa would mean a wider audience for their profitable business. The idea is that a consumer comes to them with a gift card, who would rather just have the cash. The firm then trades the gift card for a cash offer, allowing a small profit for themselves.
When they have the gift card, they can either return it to the firm it came from or trade it for cash with another firm that will use it to gain supplies. The gift card traders are then in possession of a small profit at either end.
In this business, the end-user is happy because they get money for their card, which they can spend in various places. The company is happy because they make a small surcharge, and the second firm is satisfied because it helps them pay less for their supplies.
Find out more about GiftCardsToNaira.
If you want to learn more about the whole process or live in Ghana or Nigeria, and want to trade your old gift cards for cash, look up the GiftCardsToNaira website for more information. You can also follow them on Twitter to keep up with their expansion plan.