Virtually all retailers offer customers gift cards as a means to buy stuff, serve as a present both in the online and physical store variety. We have two types of gift cards; physical and digital (e-gift cards) – and the two come with a truckload of features and benefits.
Amazon, Walmart, Target and companies of its kind allow shoppers buy physical cards, in addition to loading it online or digital accounts. These digital accounts often allow users to print gift cards from digital devices such as a smartphone or computer, and then redeem them at physical stores, or spend the balances online via an app or website. In most cases, gift cards do not usually offer the exact benefits of credit cards.
Advantages of Digital and Physical Gift Cards
All in all, gift cards serve as a good alternative for cash. Digital gift cards aren’t practically replaceable, but they sure are difficult to lose.
Physical gift cards always have to be registered to have it secured should it be lost. Once registered, most are easily replaceable.
The cards are also useful checking the spending of younger shoppers by limiting amounts and restricting the locations where the card may be used.
Above all, they come in handy as great gifts.
Disadvantages of Physical and Digital Gift Cards
A con popular with gift cards purchased in different denominations is that after purchases are made, little balances are left. Shoppers either forget about the balance or can be less bothered about making use of it. Retailers have identified this pattern and used it to get extra value out of gift cards.
This benefit, together with the suitable aspects the cards provide and for letting retailers earn faster all serve as a bonus for companies to broaden their gift card programmes. It is thus pertinent that consumers monitor their gift card balances and dig into any unforeseen situations that may arise.
A lot of gift cards do not have time limits. There are also some charges associated with transactions. Reloadable cards may also carry monthly charges.
Prepaid Credit Cards or Retailer Gift Cards?
A wide number of gift cards are offered by prepaid credit card companies that allow shoppers buy cards and reload them at retail locations. The PayPal Prepaid MasterCard allows users to easily transfer money between their PayPal account and a physical card that can be used anywhere that MasterCard is accepted.
Prepaid credit cards, debit cards, and reloadable gift cards generally offer better value than retailer-specific gift cards. However, the fees associated with prepaid credit cards as well as the benefits are generally not as favorable as traditional credit cards. Prepaid credit cards do not typically offer travel rewards or supplemental car insurance coverage, as a traditional credit card often does.
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.