Monetizing Gift Cards

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worldwebhustle

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Hello Everybody!

I am starting online business where I buy peoples unwanted gift cards. The problem with doing this online, is that once you buy the gift card, the person who sold it to you still has the claim code so they could use it.

So, to make this business successful, one must use the gift cards right away.

What are some strategies upon which one could monetize the gift cards they buy, at less than face value, and turn a profit?

I am interested in doing this at scale.

I am interested in any and all gift cards, but mostly interested in:

1. Amazon
2. iTunes
3. Google Play
4. Steam
5. Walmart
6. eBay
7. Prepaid Visa/Mastercard Gift Cards (must be gift cards, non-reloadable)

Any and All information is greatly appreciated

Lastly, which gift card do you think has the most volume/most popular?
 
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Wait, what is the business model? Are you flipping them for a profit?
Are you expecting people to quick sell their yards for a lower amount than the credit on the GC just because they don't want it??
 
Yes, many people sell their gift cards for less than the credit on the card, because they would rather have cash that can be spent on any item, not just store credit.

Nobody77 said:
You can sell them on purse io for btc
Click to expand...

Yes, I am aware of this method. I am looking for more/additional methods that can be used. BTC or Cash Equivalent is the goal, so it can be reinvested to continue the process
 
Beside if u create your own gift card site and sell them there
 
Nobody77 said:
You can sell them on purse io for btc
Click to expand...

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.
 
Yes, I like all the replies here.

My concern here, and where I see the mental "roadblock", is this:

1. Person A sells Gift Card to Person B.
2. Person A then goes and uses his Gift Card
3. Person B is now left with worthless gift card.

So I am struggling to reach that next level of the equation, trying to get to the solution.

The fix is being mailed/taking physical possesion of a physical gift card, but then they can still copy down the numbers. And waiting for the mail/taking physical possesion of a physical gift card, really slows down the scaling of this. I want to do this at scale - huge.

Maybe I just start my own gift card marketplace, and take percentage of the folks who already know what they are doing
 
worldwebhustle said:
Yes, I like all the replies here.

My concern here, and where I see the mental "roadblock", is this:

1. Person A sells Gift Card to Person B.
2. Person A then goes and uses his Gift Card
3. Person B is now left with worthless gift card.

So I am struggling to reach that next level of the equation, trying to get to the solution.

The fix is being mailed/taking physical possesion of a physical gift card, but then they can still copy down the numbers. And waiting for the mail/taking physical possesion of a physical gift card, really slows down the scaling of this. I want to do this at scale - huge.

Maybe I just start my own gift card marketplace, and take percentage of the folks who already know what they are doing
Click to expand...

Sit at the sideline.. GC business is not for you.
So many already doing it at scale because they figured it out.
 
digital_dan said:
Sit at the sideline.. GC business is not for you.
So many already doing it at scale because they figured it out.
Click to expand...

Scared of competition?

More likely, you don't know the answer, and have nothing positive to contribute.
 
First word: Many People are Doing this Business from 3 to 4 years. They got Experienced. And Even such Experienced Person Faced Chargeback Issues.
Second word: Even if you want to try then buy safe gift cards which are Purchased Offline Store with Cash Receipts. Don't Purchase the Gift Cards which are Purchased in Online. Because Online Purchased Gift Cards can be Easily Chargedback.

So, Mention in your Terms and Conditions the Gift Card need to be Purchased on Offline Store Using Physical Cash.

Be Safe...
 
Lovebox said:
First word: Many People are Doing this Business from 3 to 4 years. They got Experienced. And Even such Experienced Person Faced Chargeback Issues.
Second word: Even if you want to try then buy safe gift cards which are Purchased Offline Store with Cash Receipts. Don't Purchase the Gift Cards which are Purchased in Online. Because Online Purchased Gift Cards can be Easily Chargedback.

So, Mention in your Terms and Conditions the Gift Card need to be Purchased on Offline Store Using Physical Cash.

Be Safe...
Click to expand...
You also need to block a lot of countries. That's the first step to reducing scam. I did gc for years using IG to buy and selling on ebay..
It's profitable if you use physical cards. Online cards are riddled with problems
 
digital_dan said:
You also need to block a lot of countries. That's the first step to reducing scam. I did gc for years using IG to buy and selling on ebay..
It's profitable if you use physical cards. Online cards are riddled with problems
Click to expand...
Yes Bro. Personally i Lost 200$, I Purchased a Gift Card and I Redeemed it to My Amazon Account. After i release Bitcoins suddenly in 5 Minutes my Amazon Account got Blocked. I said them i purchased the gift card with btc for a discount but Amazon staff told that please show us a Purchase Receipt if it is genuine then we will Unblock the card.
I Just shared my personal Experience here bro. Just don't fall into any traps. Purchase only the Gift Cards whose Purchase Receipts are Available.
 
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!!
 
With google play couldnt you just add your own game and have something to purchase thus converting your gc into a purchase wbich comes back to you.


Only thing is these companies take a % and that is usually high compared to what discounted gc you can get your hands on unless you can get dirt cheap gc from somewhere?
 
manpreet said:
With google play couldnt you just add your own game and have something to purchase thus converting your gc into a purchase wbich comes back to you.


Only thing is these companies take a % and that is usually high compared to what discounted gc you can get your hands on unless you can get dirt cheap gc from somewhere?
Click to expand...

Exactly, I have mind-mapped this route. The cut of play store is 30% from my research, that eats profit away. Thank you tho for putting some effort into helping me, I very much appreciate
 
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