Prepaid Gift Cards Boom In Popularity

Gift card with an arrow extending up and to the right.

Data indicates that the popularity of prepaid gift cards is continuing to steadily increase. In fact, according to this article, the growth in sales of prepaid cards increased from .5% in 2016 to 10% just 1 year later. Prepaid gift cards continue to be a popular option for gifts and financial incentives; this includes both prepaid cards for specific companies and general-purpose prepaid cards (those affiliated with Visa, Mastercard, or one of the other common payment processing companies). 

Why The Popularity?

For the gift giver, a prepaid card feels more personal than simply gifting cash. It’s also a convenient gift option that they can purchase and send within minutes. 

However, for the receiver of the prepaid gift card, the card usually isn’t as easy to use as cash. The recipient may not shop at or frequently visit the store or restaurant that a company-branded gift card is good for. Or, with a general-purpose gift card, they may forget about the card and automatically reach for their credit or debit card. Once the balance of a gift card is low, it’s often cumbersome to use the card’s last few dollars.

Estimates state that an astounding 20 percent of prepaid gift cards are unused a year after purchase. Some gift card issuers start to charge monthly inactivity fees a year after the card’s issue date. Over time, this can whittle away or even eliminate the money on the gift card. 

How Prepaid2Cash Can Help

If you find yourself with a collection of prepaid gift cards that you’re finding it difficult to use or simply prefer the flexibility of cash, check out the Prepaid2Cash app. Use your smartphone to download the Prepaid2Cash app and scan your gift cards.

You’ll instantly see the amount that we’ll offer for your gift card. Simply accept the offer, and the money for your prepaid gift cards will be transferred to your bank account. You can also choose to be paid in Bitcoin! The whole process is quick, easy, and convenient; you can receive your funds in as little as 15 minutes. 

Ready to get started? Download the Prepaid2Cash app from the App Store or Google Play to convert your prepaid cards and gift cards into cash. It only takes a few seconds, so try it today!