Looking for the ways to redeem your gift card? You’re in the right place, in this guide, we will have a quick introduction to gift cards and why they're so important before we start talking about how to redeem a gift card successfully.

What is a Gift Card
Essentially, a gift card is a an prepaid gift card stores money value. The card is normally provided by a company, bank or retailer and can be used online or in a physical location in place of cash. A gift card can’t be withdrawn while you can use it to make purchases.

What is a Gift Card Used For
A gift card can be used to make purchases on specific online platforms or stores, like retail stores, restaurants, and other locations. With a gift card, you can load money on the card, which can then be redeemed at locations that accept them, but you may have to pay a fee if you want to purchase a prepaid gift card.

Types of Gift Card
Basically, there are 2 types of gift cards: Open loop cards and Closed loop cards.

Open loop cards: "Open-loop" is a term commonly used in the gift card industry. An all-purpose charge card that can be used anywhere that brand is accepted, like a Visa gift card, American Express (AMEx), Discover, and MasterCard are major open loop cards.

Closed loop cards: a closed-loop card also called a single purpose card, they can only be used at a specific retailer or merchant. Like Apple&iTunes gift card, Google play gift card, Steam gift card, etc.

Based on the research, here are the top 10 most popular gift cards in 2022 and in the upcoming year.

Apple&iTunes Gift Card

Steam Gift card

Google Play Gift card

American Express Gift card

Razer Gold Gift card

Amazon Gift Card

One Vanilla Gift card

Walmart Visa Gift card

Sephora Gift card

Nordstrom Gift Card

How Does the Redeem Gift Card Work

In a nut shell, redeeming a gift card means using it to make purchases at a physical or online store or exchanging it for money or digital currency on a platform.

There are some simple ways to redeem your gift cards, depending on your different purpose.

How Can You Redeem Gift Card to Naira
In General, there are 3 methods for redeeming gift cards in Nigeria.

Method 1. The gift card issuer’s physical store
In this case, the issuer must have a physical store in Nigeria to be able to use, gift cards can be redeemed over the counter at issuer outlets, and you can buy what the card allows you to purchase. You can open your map in advance to find the store nearby.

If you don’t know how to redeem, in most cases, the cashier facilitates the payment, you can ask them for help.

Method 2. Redemption online
The issuer may have an online store where you can redeem your gift card. A redeem gift card option is available on such online stores, including Spar, Shoprite, Google Play Store, iTunes, etc. With a phone, you can just log in to the website or app for redemption, just follow some steps:

Step 1: Visit the site or app where you want to redeem.

Step 2：Select the option to redeem a gift card.

Step 3：Input the gift card code where indicated.

Step 4：Input the total cost of the items you need to purchase.

Step 5：Choose the redeem option.

Method 3. Selling gift card for cash
A gift card might be the best option for you if there is no physical store in your area and you can’t access the online store conveniently. If you have unwanted gift cards to sell and you want to get instant payment in Naira, you should consider Tbay. This platform has been verified by some of the world's top media companies such as Yahoo Finance, AP News, Market Watch, and Markets Insider. You can get higher rates and more money.

Final Thoughts
Now in this article you may know how to redeem your gift card, and it’s important to help you find the new business opportunity.



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