Gift cards are the new Dollar cards. And I mean that literally. The CBN has given a directive that you can no longer use your naira card for dollar transactions. The limit has been 20 dollars for a while now, which means many people were not even using it. However, half-bread is always better than non as those small payments our naira card has always served the purpose of paying for are no longer possible.
What does this mean for your business?
The CBN directive has further opened the mind of people to actively seek alternatives to pay for things they need to get in dollars. Now imagine your business has a solution to the dollar payment challenge. Won't that mean higher sales conversion and customer acquisition for you?
While turning to dollar cards will naturally come to mind, that is not the only alternative. They can also pay with Gift cards. Instead of paying with your card on Amazon, you can pay with an Amazon gift card; renew your Apple Music subscription with your iTunes gift card; or pay on Playstore with the Playstore gift card. That is why I say gift cards are the new dollar cards.
Sell gift cards with Waverlite
With Waverlite, you can offer your customers over 120 gift cards of international and local brands. And these gift cards are not just limited to USD. They are also available in CAD, Euros, GBP and other foreign currencies.
You can connect to our API and leverage our catalogue of over 120 gift cards to sell to your customers on your platform. An extra revenue stream with good demand just like that.
And in case you are wondering if people need a gift card, here are three reasons gift cards are lucrative:
- can be redeemed back to cash
- can be used to make a purchase
- available in different foreign currencies
In the end, they get the value of the money.
But gift cards are not just a random alternative. It is a safer alternative to dollar cards. Here's why:
- can be used as a mode of sending money to various countries, e.g. US, Canada, UK, Europe, UAE
- it's more convenient to pay with Giftcards on global e-commerce stores
- eliminates the fraud risk of online card payments
- it's the perfect gift for your loved ones, employees or customers
What makes a good business is being able to turn every moment and even unfavourable policies into an advantage. There is one of those moments. Why not take it now?