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Prepaid visa gift cards are a big business today. A lot of companies that have merchant accounts are taking advantage of prepaid cards. Experts are predicting that this trend will not go away soon, especially during the holiday season, when these gift cards are in huge demand. Holidays are not the only season when these cards are in order. People opt for gift cards for birthdays, weddings, various other events. They even prefer to have prepaid visa card with them while shopping for the perfect gift.
Gift cards are the most sought after and requested for nine years in a row according to research from the National Retail Federation. People love these cards and cannot have enough of them. They take away the burden of finding out the perfect gift for someone and giving them the freedom to choose what they want themselves.
Why Do People Buy Visa Gift Cards?
Visa gift cards are also called open-loop gift cards. People prefer them over other options because they give the receiver flexibility in choosing how and when to redeem the gift cards. Other gift cards that are specific to a store or a restaurant can only be redeemed at that specific place or one of their other outlets.
So, if you want to give a gift card to someone, you need to take into account their location, the kind of products that they want, and the price before giving them a closed-loop gift card. Visa gift cards are perfect as we don’t know what the users like or not. Or if we do know what they like, they may want something else. Visa gift cards give you the freedom of choice, whether you want to keep the card yourself or give it to someone else.
There are a couple of points to keep in mind. First of all, visa gift cards that have been purchased in the United States can only be redeemed in the United States and not outside. Secondly, there is an activation fee for these cards. The fee is not a lot and can be paid easily.
People might wonder why these cards are preferred as compared to closed-loop gift cards. The reason is that a lot of people prefer paying the fee instead of going for a typical gift card. It is due to the ease, comfort, and convenience attached to them.
Prepaid visa gift cards are redeemable almost everywhere. You can use them in stores and restaurants, but that’s not all. You can also use them for practical purposes like at a grocery store, pay a utility bill, co-pay for your dentist, or your therapist visit. This means that you might give someone the visa card thinking they will use it at a store, and they might need urgent cash to pay for an emergency doctor’s visit and use the card instead. That is the gift of the visa gift card.
How Does The Visa Prepaid Card Work?
Like mentioned earlier, the visa prepaid gift cards can work almost everywhere. If you want to use it at a point of a sale terminal, all you have to do is to swipe the back of the card against the terminal. The magnetic strip is present at the back of the card. Once you have done that, just sign the receipt. The purchase amount, as well as the taxes and other charges, will be deducted from the card balance. This will happen until the balance becomes zero. Once the entire amount of the card is spent, you cannot use it any further.
You can even use it online. When you receive the prepaid visa gift card, it might be pre-activated, or you might have to activate it yourself. Once activated and registered, it can be used for online transactions too.
Here are five things that you need to know about your gift cards.
1. Gift cards can be reused
When a gift certificate is purchased or given, it can only be used for the amount that it was initially meant for. There are a lot of gift cards that can be reloaded again, or additional credit can be added to them so that you can use them for a longer period. This way, you can ensure that whether you have cash or not, you can always carry your gift card as your backup.
2. They’re easier to track and manage
You can easily redeem, track, and manage gift cards. It doesn’t matter if you purchased them yourself, or received it from someone else. Visa gift cards are processed through the same system that processes credit cards.
3. Gift cards make good gifts
Gift buying is problematic for people. There’s always a tension of what the other person would like. Not a lot of people are good at moving from shop to shop looking for the perfect thing to give to someone. A gift card offers you the ideal alternate. Of course, you can give cash, but it doesn’t have the same feeling. Visa gift cards are the best idea as they can be used anywhere you want, and any time you want. You don’t have to spend it all in one place. You can buy one gift or multiple gifts for yourself within the amount. You can use it for utility bills, or groceries, etc.
4. They’re readily available.
Visa gift cards are easily available everywhere. You can even get them at cash registers. You can transfer any amount of cash that you want into the gift card. You can also get the cash from the ATM for your card. Nowadays, with mobile apps, you can easily check the balance of your visa gift card and top it up. You will find great customer service if you run into any problems.
5. No Credit History or Bank Account Required
One of the most beneficial things about visa gift cards is that you can use it even if you don’t have an account or without giving any background information about yourself. If you have bad credit and someone gifts you a visa gift card, you can easily use it anytime that you want. You might not be able to open an account in a bank, but you can easily use a visa gift card issued by that bank. You can manage and track your amount without any trouble.
This is one of the best ways to give someone the perfect gift. You can ensure that they get what they want or need without spending too much time marching through the market.
The Final Word
Visa gift cards are not just for individuals but also for corporate businesses. You can easily reward your staff and employees with a visa gift card. The funds are available immediately. Prepaid Visa gift cards are safe and secure and can be used without any fear. You can use it for incentives, commissions, promotions, and more. This will benefit not only your employees but also yourself.
You may also like: Best Corporate Gift Ideas that will Leave a Lasting Impression
Image source: Pixabay.com
This article failed to point out the high monthly administration fees charged if the recipient of the ‘gift’ doesn’t use it all within a year.
Would not recommend. Stolen card info cannot be traced. It’s like losing cash..
I have been given them a couple of times. I make sure I use every last cent on the card on the card. You will pay activation fee and other fees for them why give Visa any more money.