Gift cards are prepaid cards that can be used as a form of payment for products or services. They are often issued by retailers, financial institutions, or specific brands, allowing recipients to purchase items up to the value stored on the card. Gift cards can be physical or digital, and they are commonly used for gifts, promotions, or as a way to store funds for future purchases.
Here are 5 key points about Gift Cards:
- Easy Gifting: Gift cards are a popular choice for giving presents, as they allow the recipient to choose exactly what they want, making them a versatile gift option.
- Prepaid Balance: The card comes preloaded with a set amount of money, and the cardholder can use it to pay for purchases, either online or in-store, until the balance is depleted.
- Digital and Physical: Gift cards can come in physical form, like plastic cards, or as digital codes that can be delivered via email or text for immediate use.
- Expiration and Fees: Some gift cards may have an expiration date, maintenance fees, or inactivity charges, depending on the issuer’s terms and conditions.
- Brand Loyalty: Many retailers offer branded gift cards that encourage customers to shop with them, while some multi-brand gift cards, like Visa or Mastercard gift cards, offer more flexibility across various stores.