Prepaid gift cards have become a popular option for both businesses and consumers, offering convenience and flexibility in gift-giving and spending. In this blog post, we’ll take a closer look at the top ten prepaid gift cards in circulation, the benefits of using prepaid cards for businesses and customers, and the limitations that come with them. We’ll also explore how blockchain technology can help fix some of those limitations.

Top Ten Prepaid Gift Cards in Circulation

  1. Amazon Gift Card — $3.02 billion
  2. iTunes Gift Card — $2.22 billion
  3. Visa Gift Card — $2.20 billion
  4. Walmart Gift Card — $1.77 billion
  5. American Express Gift Card — $1.01 billion
  6. Target Gift Card — $1.00 billion
  7. Starbucks Gift Card — $748 million
  8. McDonald’s Arch Card — $314 million
  9. Home Depot Gift Card — $296 million
  10. Subway Gift Card — $266 million

Benefits of Using Prepaid Cards for Businesses

Prepaid gift cards can be an effective tool for businesses looking to increase revenue and customer loyalty. Here are some of the key benefits:

  1. Increased sales: Gift cards can encourage customers to spend more than the value of the card, leading to increased sales for the business.
  2. Brand awareness: Prepaid gift cards can help increase brand awareness and attract new customers to the business.
  3. Reduced fraud: Unlike cash or checks, prepaid gift cards are difficult to counterfeit or steal, reducing the risk of fraud for the business.
  4. Improved cash flow: Gift cards are typically sold in advance, which can improve cash flow for the business.

Benefits of Using Prepaid Gift Cards for Customers

Prepaid gift cards offer a number of benefits for customers, making them a popular choice for gift-giving and personal use. Here are some of the key benefits:

  1. Convenience: Prepaid gift cards are easy to use and can be used to make purchases online or in-store.
  2. Flexibility: Gift cards can be used to purchase any item in the store or online, giving customers more flexibility in how they use the card.
  3. No credit check: Prepaid gift cards do not require a credit check, making them a good option for customers with no credit history or poor credit.
  4. Security: Gift cards are more secure than cash or checks, as they can be easily replaced if lost or stolen.

QGlobe SDK uses blockchain technology to revolutionising the prepaid gift card market by providing a transparent, immutable, and interoperable ecosystem for gift card points. By eliminating intermediaries and providing a decentralised platform, blockchain can reduce fees, increase security, and improve flexibility for both businesses and customers.