Here is a step-by-step guide on how to redeem gift cards in Nigeria in 2021 and gift card rates in Nigeria
Persistent dollar scarcity in Nigeria has forced many import-dependent businesses to seek alternatives to traditional means of purchasing foreign products and payment for those products.
One of the several alternatives adopted by small import companies operating in Nigeria is gift cards. However, because of scams perpetrated by few fraudulent individuals, navigating this new terrain or niche required a guide.
To dive into how to beat fraud and exchange your gift cards to Naira in minutes, let’s first understand what gift cards are!
What Are Gift Cards
Gift cards are prepaid debit cards with a preloaded specific amount for the purchase of items.
Here is How a Gift Card Works
Since gift cards are prepaid debit cards loaded with funds for future purchases, the two types of gift cards, the open-loop and the closed-loop cards can be used online and in person.
Here are the differences between Open and Closed Loop Gift Cards
Open-loop gift cards can be used at many merchants, like regular debit cards while closed-loop gift cards are good at just one retailer.
Please note that closed-loop gift cards are usually not reloadable.
For many gift cards, there is a stipulated minimum and maximum initial loading amount, the usual minimum is $10 and a common maximum is $500. In some situations, they can be used to pay for a portion of purchase with cash, debit, or credit used to balance the expense. As a precaution to mitigate the risk of losses, many gift cards can also be registered online — a strategy that allows the remaining balance to be tracked and frozen if a card is lost. In this way, some gift cards are safer than cash.
Gift cards can be used to purchase items online and in physical stores where gift cards are accepted. For example, a bearer can use the apple gift card to buy apps, music, books, etc and also at any retail store that accepts gift cards.
How to Redeem Gift Cards to Naira
Apexpay.org, Nigeria’s fast-growing gift cards exchange company, is the leading gift card exchange platform online.
- Visit https://www.apexpay.org
- Click on get started and
- Initiate a sell order via WhatsApp chat.
- Discuss all the modalities and submit your bank account details
- Receive your payment in minutes.
Apexpay has developed a system that eases the burden and closes the gap that exists in the exchange industry by ensuring a safe and secure platform for both seller and buyer.
The Most Popular Gift Cards in Nigeria this Year
- Amazon Gift Card
- Visa Gift Card
- Walmart Gift Card
- Target Gift Card
- Starbucks Gift Card
- eBay Gift Card
- American Express Gift Card
- iTunes Gift Card
- Google Play Gift Card
- Amex Gift Card
- Sephora Gift Card
- Best Buy Gift Card
- Gamestop Gift Card
- MasterCard Gift Card
- Nordstrom Gift Card
- Apple Store Gift Card
- Steam Gift Card
- Macy Gift Card
- Vanilla Gift Card
- Nike Gift Card
- Offgamers Gift Card
- Home Depot Gift Card etc.
Gift Card Rates in Nigeria Today – Naira Gift card rates per $100