The high liquidity of gift cards makes them a target for criminal activity.
The industry is currently in a state of rapid digital transformation:
: A leading Indian platform where users can sell unused gift cards instantly and earn cashback.
The secondary gift card market operates on —buying cards at a steep discount and reselling them at a smaller discount. The Flipping Model
: Resellers buy unwanted cards from individuals at 60%–80% of their face value.
Sell Gift Cards and Unused Vouchers for Cash in India | Zingoy
: The 10%–30% gap covers platform fees and provides the reseller's profit. Corporate & API Integration
: North America holds the largest market share (approx. 40%), while the Asia-Pacific region is the fastest-growing due to high smartphone and digital wallet adoption.