With the convenience, pliability, and long-term value provided by gift cards, a large number of people use gift card for diverse reasons. Also, be it an incentive for a worker to being a gift idea for your friends and loved ones, they always come in handy. But did you know that gift cards come in different types? And right in this piece, we will be talking about the different types of gift cards. Before you head out and hunt for the perfect one, it is best to know about gift cards.
Types of Gift Cards
1.What Is A Physical Gift Card?
A physical card simply refers to any gift card with a picture. They are the actual physical cards that are purchased directly from a physical store. Physical cards should show the full digits of the pin (redemption or claim code) which appears in the scratched pin area. The value of physical cards ranges from 1$ to 100$.
2. What is a Large Card?
A large card is any physical card whose value ranges from $101 to 2000$. Simply put any Gift card that has a value of over $100 is considered a large card. Large cards also go for a lower rate than physical cards as there is low demand for such cards. It is advisable to buy cards ranging from $10 – $100 in value especially for iTunes.
3. What Is A Gift Voucher / Gift Certificate?
These are gift certificates that enable the recipient receive products or services of specified sum of amount from a person (business, organization, etc.). Gift Vouchers are typically sent or purchased in paper formats and have an authorized signature from the business issuing them. The stated amount is also included on the voucher itself and depending on the type of voucher, the receiver (employee, gifted to relatives or friends, etc.). One can shop for products or use services from specified places where they are applicable. This type of gift card is mainly used by organizations as payment of salary and bonuses to employees, especially because it saves tax. If ordered online, it can also be personalized.
4. What is an E-Code?
As opposed to Physical cards, e-codes are cards traded with just the (redemption or claim) codes. They are less valued than a physical card cos there is little demand for e-code. Simply put, e-codes are just the digits of the gift card without the gift card picture.
They are also sometimes called virtual gift cards. E-codes are most commonly delivered via e-mail to a recipient, often with a personalized and branded message.
This again can be open loop or closed loop – some retailers will offer the ability to gift e-codes for use at their shop or website. However, there are also employee reward platforms that allow the delivery of e-codes for an open loop use that can be spent at a choice of multiple retailers. These e-codes are typically 16 digit numbers or a PIN code that are entered at checkout or on a specific web page. And they are exchanged for goods in the same way a credit card would be used.
5. What Is A Top Up’ or Reloadable Gift card?
Some gift cards have the ability to be topped up in store or online with the retailer. And this is ideal for retailers who offer the card, as it keeps footfall high. It is also great for businesses that have gifted out a gift card, as the memory of the event lives on!
Cardtonic operates as a trading platform with direct gift card brokers. Cardtonic also provides flexible trading options to allow the ease of trading. This platform allows the option of trading via Instant messenger, website and a mobile app for convenience.
Trading is done easily through the mobile app, website and instant messengers. Moreover, this platform processes over 10,000 transactions each month. Given so much volume, the company possesses a brilliant reputation for being secure and reliable.