Before getting started on the importance of gift cards in Nigeria, I believe a brief introduction is required. A gift card is a prepaid debit card, loaded with a specific amount of money, that is created to be redeemed at a specific brand, restaurant, store, etc to make purchases.
Forms of Gift Cards
There are two major forms of gift cards:
Physical Gift Cards: Regardless of the brand, physical gift cards come in hard paper or plastic form. Which usually have their amount boldly written on it.
E-codes: They usually come in digital form and are sent to your Email.
These digital assets were created to be an alternative source of payment for specific brands. Asides from cash, debit, or credit cards, the gift card would also be accepted when it’s time to make payment at the brand.
As the name implies, the gift card is also an amazing present to give a loved one, either spontaneously or during their special occasion. Instead of struggling to think of the specific present to give them, simply giving them a nicely funded gift card from their favorite restaurant, store or brand can go a long way.
Gift Card Usage And Trading in Nigeria
Back then, the average Nigerian in the country probably would not have heard about the word “Gift Card” even if they had, have no use for it. This is because the brands that used these assets back then, didn’t exist in Nigeria. Thankfully, that is the opposite of today’s reality. These brands have not only extended their reach to the country, but local brands have also incorporated gift cards into their businesses.
Other than these assets being an awesome present for loved ones, an alternative method of payment, they also serve as an excellent means of exchange and payment. Just like Cryptocurrencies, people are now being paid in gift cards. What this means is that you can now exchange your gift cards for Naira in a matter of minutes.
An asset that had so many dark clouds around it in the country has now become one of the most sought out digital items in Nigeria in recent years. And we have legitimate gift card exchange platforms in Nigeria to thank for this.
The demand and use of gift cards in Nigeria would keep growing. So if for any reason you have had reservations or are still on the fence about it, I strongly suggest you hop right on the wave now. It is not too late.