There are several apps to trade gift cards in Nigeria. However, not all of these apps are best for you. To come up with this post, we examined several gift cards trading apps in Nigeria, putting several factors into perspective.
Factors to Consider When Choosing a Platform to Trade Gift Cards
When picking the best app to sell gift cards in Nigeria, the following factors are critical. Here is everything you need to know.
Reliability and Reputation
Gift cards exchange is a financial transaction; money is involved. Hence, you need to trade with a platform you can trust. The sensitivity of these financial transactions makes it pertinent that you do your background research properly before committing to a platform.
If you don’t have friends who can recommend trading platforms, you can search for recommendations on reputable news websites like ours.
Whether you want to sell iTunes gift cards in Nigeria or Amazon, you need to be sure it isn’t a fake website you are selling on. These days, detecting fake trading can be daunting, as they are designed to look like legit websites and apps. When you come across a new platform, you should check for their activity on social media. Check for the users engaging them, and find out if such users have used the platform before.
You should also check the website’s name on Trust pilot or other review platforms you trust. Then, once you find a reliable platform to trade gift cards, you won’t have to go through the legitimacy-check stress again.
Overall, if you have doubts about the legitimacy of a website, you should steer clear.
The Rates they Offer
The only reason you trade gift cards in Nigeria is for profit. Hence, you need the gift cards trading app that gives the highest rate. You aren’t trading for the fun of it. Check through the website of the potential trading platform to see the rates they offer. It would be best if you then compared their rates with that of other websites.
However, don’t fall for scam websites that may offer exceptionally high rates. For each gift card, you want to trade, ensure that you know the standard value. Each gift card has its respective value. Hence, conduct your research to understand the average rate of the gift card you want to trade.
This is another important box that the gift cards trading platform you choose must check. You don’t want to wait a whole day or two before getting cash payment for the gift card you sold yesterday. Hence, check through reviews that talk about how fast they got their money.
The best app to trade gift cards in Nigeria will only take minutes, maximum, before remitting your payment.
The Best Gift Card Trading App | Cardvest
Trade Any Gift Card
Cardvest was established in 2016, and in its 5 years of existence, the platform has developed to make it possible to trade any of the gift cards you have. For example, from Amazon to play store, Nordstrom, Vanilla, etc. Not only does the platform support trading these cards, but they also buy from you at the highest rate possible. Hence, to make a profit from that card with you, use Cardvest.
Support and Security
When trading on Cardvest, you shouldn’t be worried about your data being compromised. The system is advanced, developed to ensure that it’s difficult for hackers to penetrate. In addition, all financial transactions on Cardvest are through secure channels.
When there is any technical problem, the support team at Cardvest is always available to help you true. Either it’s a functionality that’s not responding, or your transactions unexpectedly got delayed, there is help around the corner. An email will get support to you within the hour.
Cardvest is the best platform to trade gift cards for cash in Nigeria. The platform is reliable, offers the best rates, allows you to trade any card, offers maximum support and security while also making sure you get your payments as fast as possible. Start selling on Cardvest.
Firm Launches Yellow Pay to Facilitate Easy Intercontinental Transactions
By Adedapo Adesanya
Yellow Card Financial has announced the launch of its new payment feature, Yellow Pay, to make it easier for customers to send and receive money through the company’s crypto exchange platform.
The firm said the new product will be coming without any extra charges for users.
The Director of Operations for Yellow Card, Mr Oparinde Babatunde, said one of the biggest challenges in Africa is the difficulty in money transfer, stating that it is easier to send money from Nigeria to the US than it is to send money from Nigeria to Ghana or Zambia, and in the instances where it is possible, it is usually through the United States Dollars.
However, “Yellow Pay simplifies money transfer between African countries by building a solution that understands the way Africans already interact with financial products.
“We’ve managed to simplify it further by reducing costs and waiting time of remittance across the continent drastically compared to traditional money transfer rails.
“With Yellow Pay, Africans can send money across borders using their phones.”
Yellow Pay uses Yellow Card’s crypto exchange platform to complete customer transactions in USDT (Tether).
It is important to note that Yellow Pay is not a money remittance or foreign currency exchange service. Rather, Yellow Pay is an advanced crypto exchange product.
The company explained that there are several benefits to using Yellow Pay. Firstly, the service is powered by blockchain technology making it cheaper. Secondly, transactions are instant so there’s no waiting period. Lastly, money transfers are absolutely free. And lastly, the uses are endless as one can: send money for business, school and healthcare. Gift cash to friends and family across Africa, pay vendors in other countries, receive payment for services, pay bills and fees in other African currencies and so much more.
Mr Oparinde adds that “The people that will benefit from Yellow Pay the most are the unbanked and underserved people living in peri-urban areas and rural parts of the continent. They usually do not meet the necessary requirements to open a dollar account with banks and as such are cut off completely. Yellow Pay will service this market.”
The company added that the launch of Yellow Pay not only makes it easier for money transfer but also opens up the continent to more investment, access to credit, and business grants, and generally will improve the ease of doing business.
Jumia Grows GMV by 21%, Revenue by 43% in Q2 2022
By Adedapo Adesanya
Jumia Technologies recorded a 21 per cent growth in its Gross Merchandise Value (GMV), which shows the total sales monetary value for merchandise sold through a particular marketplace over a certain time frame, in the second quarter of the year as the metric jumped to $271.1 million compared to $223.5 in the same period last year.
This was announced today in its financial results for the second quarter ended June 30, 2022.
Revenue also grew 42.5 per cent to $57.3 million from $40.2 million while it raked in a gross profit of $30.4 million from $26.8 million, a 13.6 per cent growth by comparison.
This is as Orders and Quarterly Active Consumers also grew by 35 per cent and 25 per cent respectively. In the period under review, Jumia across the board settled 10.3 million orders against 7.6 million, while its customer base in the three months grew from 2.7 million last year to 3.4 million.
Commenting on the results, Mr Jeremy Hodara and Mr Sacha Poignonnec, co-Chief Executive Officers of Jumia said, “We remain focused on scaling the business towards profitability. In the second quarter of 2022, we have successfully delivered on each building block of our path to profitability: usage growth momentum, monetization acceleration and cost discipline.
“Despite a deteriorating macro environment, we maintained a strong pace of usage growth. Orders, Quarterly Active Consumers, and GMV grew by 35 per cent, 25 per cent, and 21 per cent respectively, on a year-over-year basis.
“Leveraging robust usage growth, we further accelerated monetization. Gross Profit and Marketplace revenue were up 14 per cent and 17 per cent year-over-year respectively, the fastest growth rates of the past 5 quarters.”
In the context of rising inflation and input cost pressure, Jumia announced that cost discipline remained a top priority, adding that it drove usage growth and monetization acceleration with lower-than-expected marketing investments with Sales and Advertising expenses of $41.0 million in the first half of 2022 compared to our guidance of $50-55 million.
“We believe we are now past the peak of quarterly Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) losses reached in the fourth quarter of 2021 and intend to redouble our efforts to reach profitability, leveraging our strong business fundamentals.
“We intend to reduce Adjusted EBITDA losses starting from the second half of 2022 with a 12 per cent to 29 per cent decrease year-over-year.”
“We are confident our consistent and disciplined execution will help us reach profitability and build an even stronger and more relevant platform,” the company noted.
Speaking on its impact initiatives, Jumia noted that in Nigeria, it partnered with Errand360 to offer eco-friendly, bicycle-powered meal deliveries to our customers.
“This partnership will help us reduce our carbon emissions and delivery costs thanks to lower maintenance costs and zero spend on fuel,” it said.
NIPR Lagos to Hold 9th Stakeholders Conference August 18
By Adedapo Adesanya
The Lagos State Chapter, the premier branch of the Nigerian Institute of Public Relations (NIPR) in collaboration with Addefort Limited is set to host the ninth Lagos Public Relations Stakeholders’ Conference.
In a disclosure on Thursday, the chapter said that the conference will address Leadership and Poverty Eradication at the MUSON Centre, Lagos on Thursday, August 18, 2022.
The Lagos Public Relations Stakeholders Conference is a bridge-building initiative to interact and proffer solutions to the social, political and economic challenges plaguing our nation.
This edition themed Conversations on Leadership and Poverty Eradication is expected to feature distinguished speakers including; the Governor of Lagos State, Babajide Sanwo-Olu; Mr Tony Elumelu, founder and Chairman, Heirs Holdings; and Mr Umar Garba Danbatta, Executive Vice Chairman/ CEO, Nigerian Communications Commission (NCC).
Others are Mr Segun Ajayi-Kadir, DG Manufacturers Association of Nigeria (MAN); Mr Kayode Pitan, Managing Director, Bank of Industry (BoI); Mrs Tejumola Abisoye, Executive Secretary, Lagos State Employment Trust Fund (LSETF); Mrs Cecilia Bolaji Dada, Commissioner of Women Affairs and Poverty Alleviation, Lagos State and Dr Oluseye Ajuwon, Economist and Consultant, University of Lagos.
Speaking on the conference, the Chairman, Lagos NIPR, Mrs Comfort Obot Nwankwo, explained that the theme for this years edition is timely, adding that the Institute is committed to setting agenda for stakeholders’ engagement and lead the discuss to reawaken national consciousness.
She noted that eradicating poverty in all its forms remains one of the greatest challenges facing humanity; Nigeria is not an exemption, despite the efforts of government in the country, too many are still struggling for the most basic human needs.
On the part of Mr Olabamiji Adeleye, Conference Coordinator & Lead Consultant, Addefort Limited, participants at the conference will include; representatives from government, Public Relations practitioners, economic experts, the United Nations, embassies, corporate organisations, institutions, NGOs, HODs of relevant agencies, and the media among other stakeholders.
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