Monetizing Gift Cards

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worldwebhustle said:
Yes. Thanks for all the replies. It appears to me, the way to do this business is to try to find creative ways to use the gift cards to create profits. Simple buying and reselling of gift card is hard, and profit margin is not always great.

I really want to know how to make profit with:

1. Steam
2. iTunes
3. Google Play

Steam, I imagine profit can be made by purchasing in-game assets and reselling them? Does anyone have experience with this? Or anyone who can offer insight?

iTunes and Google Play, seems very hard to try to buy something with the gift card, and resell.

Physical stores, Amazon/eBay, seems you can buy items with the gift card and then resell them.

I need ideas my friends!!
Click to expand...
Some idea for steam you can put service to purchase game at discounted rate, or you can sell ingame item like in TF2, csgo , dota 2. if you sell on discounted price than you can sell it quickly. Btw for the game remember it's region locked. so game you purchase in usa region, cannot be sent to other region.
( resell at steam is very proffitable ,if you know the right item, example old method https://www.reddit.com/r/tf2/comments/1e03tn/iama_steam_market_bot_writer_who_recently_got/ h )
 
sanj108 said:
Sadly, purse.io is closing down it's operation. Flipping gift cards is a great business if you know what you are doing.
There's room to get scammed.

Besides this, you can sell gift cards on paxful (only if you have receipt with you).
Don't ever buy digital gift cards without cash receipts.
Physical cards only are ways to not get scammed.
Click to expand...
@sanj108 purse.io reopened on the 23rd. Glad to see em back
 
@worldwebhustle what are you going to do to protect yourself from the many giftcard scams? Not least money laundering, you could end up with a far bigger problem than spent cards.
 
Last year, I had what I though would end up as a multi-million dollar idea in the preowned gift card space.
I started developing the site, I've got code in place to make an offer to a potential seller based on what the big name resellers would give for it.
But like you, I couldn't get past the fraud potential.

The workflow I'd like to achieve is:
Person A has gift card for resale.
My site makes an offer to buy, or matches directly with Person B.

I can't figure out a viable way, (short of maybe building out a reputation system which I don't want to rely on) to:
verify that after the sale, the card is used by Person B, and not Person A.
If I could solve that, I'd jump right back on what I was doing.

Good luck to you and your pursuit, I hope something positive comes out of this thread - maybe for the both of us!
 
Elvlin said:
Some idea for steam you can put service to purchase game at discounted rate, or you can sell ingame item like in TF2, csgo , dota 2. if you sell on discounted price than you can sell it quickly. Btw for the game remember it's region locked. so game you purchase in usa region, cannot be sent to other region.
( resell at steam is very proffitable ,if you know the right item, example old method https://www.reddit.com/r/tf2/comments/1e03tn/iama_steam_market_bot_writer_who_recently_got/ h )
Click to expand...

I am very interested about this method. I do not play steam games, so I have to do research to see what is profitable. But seriously, I will buy steam cards all day long if I have the right in game products to sell.
 
Sebastian Rooks said:
Last year, I had what I though would end up as a multi-million dollar idea in the preowned gift card space.
I started developing the site, I've got code in place to make an offer to a potential seller based on what the big name resellers would give for it.
But like you, I couldn't get past the fraud potential.

The workflow I'd like to achieve is:
Person A has gift card for resale.
My site makes an offer to buy, or matches directly with Person B.

I can't figure out a viable way, (short of maybe building out a reputation system which I don't want to rely on) to:
verify that after the sale, the card is used by Person B, and not Person A.
If I could solve that, I'd jump right back on what I was doing.

Good luck to you and your pursuit, I hope something positive comes out of this thread - maybe for the both of us!
Click to expand...

Good for you, good for me. Maybe we can collaborate, as it sounds like we are both on the same path here. The market is huge, and it can be done, but the question is how to get past these roadblocks you mention. Where there is a will there is a way.

So far, it seems like the only way is to use the gift card to purchase something, and then resell it. Or get in contact directly with each company, and when we buy a gift card, validate it with the company, and the company generates a new gift card, so "person A" in your example, does not know the code that "person B" gets.

The question then is, will the companies want to work with a small business start up? I think they might.
 
worldwebhustle said:
Good for you, good for me. Maybe we can collaborate, as it sounds like we are both on the same path here. The market is huge, and it can be done, but the question is how to get past these roadblocks you mention. Where there is a will there is a way.

So far, it seems like the only way is to use the gift card to purchase something, and then resell it. Or get in contact directly with each company, and when we buy a gift card, validate it with the company, and the company generates a new gift card, so "person A" in your example, does not know the code that "person B" gets.

The question then is, will the companies want to work with a small business start up? I think they might.
Click to expand...


For amazon its hard but you could do this even though its quite long winded and not sustainable or turnkey.

With amazon you cannot buy gift card with another gift card but you can buy goods and get a refund as a giftcard/balance (i think last time i looked):

Setup amazon seller account
Buy your own items using the unvalidated gift card immediately from you own seller acc
Ask for refund within 30 days or so in vouchers/gift cards

I don't know whether their tos has changed and this is time consuming but one way to validate and bring out a new gc
 
worldwebhustle said:
Good for you, good for me. Maybe we can collaborate, as it sounds like we are both on the same path here. The market is huge, and it can be done, but the question is how to get past these roadblocks you mention. Where there is a will there is a way.

So far, it seems like the only way is to use the gift card to purchase something, and then resell it. Or get in contact directly with each company, and when we buy a gift card, validate it with the company, and the company generates a new gift card, so "person A" in your example, does not know the code that "person B" gets.

The question then is, will the companies want to work with a small business start up? I think they might.
Click to expand...

It seems like most companies that issue gift cards, walmart, etc. are making it increasingly difficult to transfer. Maybe to fight money laundering, maybe to get people to leave that money on the table and never spend it. If you could still just buy a new gift card with the trade in giftcard, I'd probably be discussing this with you right now from a more tropical location.

Can it be done? My answer is always "Yes" anything can be done. But if it takes too long to figure something out, the idea goes back on the shelf until such time when the answer shows up in one form or another, while I work on other things. That's where this has been for a while.

As you say, buying some sort of intermediary seems like a workaround, but unless it's another gift card, it f's my model all up.
 
I am very interested in which products to buy with the giftcard, to turn around and resell. I am definitely interested in in game products with steam. I need to do product research, to see what in-game items are selling.

Question for anyone that knows, how fast do in-game steam items sell?
 
twinturbo90 said:
@sanj108 purse.io reopened on the 23rd. Glad to see em back
Click to expand...

Quote from Purse.io:

We will continue to offer support for ongoing orders and withdrawals until June 26, 2020 to ensure all transactions and accounts are settled.

  1. As of today, April 16, 2020 new signups have been disabled.
  2. “Shop” and “Earn” functionality will be disabled next week on April 23, 2020. Open orders that have not been matched will be canceled.
  3. http://Purse.io will cease operations on June 26, 2020.
If you have a balance on Purse.io, please withdraw all funds as soon as possible.
Click to expand...
 
worldwebhustle said:
I am very interested in which products to buy with the giftcard, to turn around and resell. I am definitely interested in in game products with steam. I need to do product research, to see what in-game items are selling.

Question for anyone that knows, how fast do in-game steam items sell?
Click to expand...

That's an interesting prospect. I don't really know what steam is, but I've heard of it. I guess I'm from the last generation before adults playing video games became a thing. If this steam business is some sort of digital asset exchange that takes a wide range of giftcards at viable exchange rates, then maybe that's the answer I've been missing.

I'm balls deep into my first saas app right now, but I'm going to be following your thread and I'll put that Steam thing that all the kids are talking about on my list of things I need to check out.
 
Sebastian Rooks said:
That's an interesting prospect. I don't really know what steam is, but I've heard of it. I guess I'm from the last generation before adults playing video games became a thing. If this steam business is some sort of digital asset exchange that takes a wide range of giftcards at viable exchange rates, then maybe that's the answer I've been missing.

I'm balls deep into my first saas app right now, but I'm going to be following your thread and I'll put that Steam thing that all the kids are talking about on my list of things I need to check out.
Click to expand...

Sounds like we may be of similar generations. And that makes things like Steam tough for me. I do not have the in-built experience of years using the platform, to have the intuition to know which in-game assets sell the fastest. Sounds like I have a lot of research to do.

Good luck with your SAAS project
 
I think people are really interested in getting prepaid virtual cards that work with any name and in most countries.

Just not many reliable websites where you can buy vcc.

I think this forum has few reputable vcc sellers.

Would be great if each subforum would have a thread with Hall of fame trusted members that sell their service based on how many members would vote for them.

Hall of fame trusted vcc members/sellers would be a popular forum thread.
 
sanj108 said:
Quote from Purse.io:
Click to expand...

@sanj108

Look at the updated announcement, right above what you quoted. They have new owners and are staying open. What you quoted is outdated. I was able to enter a shop agreement on the 27th. 4 days after your quoted deadline.
 
The best idea is to work with bitcoin conversion and then buy stuff from amazon to resell...

I am selling videogames keys (like Steam) in several marketplace like kinguin and G2a,and as gift cards,the margin is the main factor

Hope you the best if you need help just dm me,i am starting to sell videogames keys
 
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