Can i know your opinion

[ph3mi]

Hello good day, i see Americans and Chinese retailers that buy bulk iTunes and Amazon gift cards on a daily basis and i am left with the thought of what a single person could be doing with so much gift cards. They buy as much as 10,000$ worth of cards daily, different retailers.

Itunes balance cannot be transferred so it's not logical that they buy and resell after( though i don't know.), but i am sure they make money from this.

Please if you have any idea about how they monetize gift cards kindly let me know. . Thanks

 

[Wilson Grant Fisk]

Money transfers/money laundering?
https://encrypted.google.com/search?q=itunes+gift+card+money+laundering
https://encrypted.google.com/search?q=amazon+gift+card+money+laundering

 

[blogzandstuff]

Hello good day, i see Americans and Chinese retailers that buy bulk iTunes and Amazon gift cards on a daily basis and i am left with the thought of what a single person could be doing with so much gift cards. They buy as much as 10,000$ worth of cards daily, different retailers.

Itunes balance cannot be transferred so it's not logical that they buy and resell after( though i don't know.), but i am sure they make money from this.

Please if you have any idea about how they monetize gift cards kindly let me know. . Thanks

They sell them to people that don't know they can't be transferred, then move on to the next mug

 

[MisterF]

OP,
I edited your post, just so there was no confusion.

 

[ph3mi]

Money transfers/money laundering?

Thanks for this response

 

[ph3mi]

They sell them to people that don't know they can't be transferred, then move on to the next mug

i don't think anyone will want to buy bulk gift card without having an idea of what to do with it

 

[raregem009]

Well in my country there are people who help buy stuff from amazon and ship them down for their customers. They buy a lot of amazon gift cards for around 2/3 of the value and then use the cards to make purchase on Amazon. They charge their customers correct value for item purchased and charge for shipping too. So they make good money. But for iTunes I don't know how they profit from that. I do know it is exchanged for bitcoin, but don't know how the buyer makes profit.

 

[ph3mi]

Well in my country there are people who help buy stuff from amazon and ship them down for their customers. They buy a lot of amazon gift cards for around 2/3 of the value and then use the cards to make purchase on Amazon. They charge their customers correct value for item purchased and charge for shipping too. So they make good money. But for iTunes I don't know how they profit from that. I do know it is exchanged for bitcoin, but don't know how the buyer makes profit.

Thanks for this response, i'll look into it