E-codes; What are they used for

E-codes; What are they used for

What Are E-codes Used For

E-codes: Plastic gift cards make the payment for products convenient but do you know what is even more convenient than the usual plastic branded gift cards, Digital gift cards. In this article, we will explain how E-codes (digital gift cards) works and its advantage over the physical gift card.

About Gift card

A gift card is a prepaid debit card that is loaded with a certain amount, which can then be used to make purchases and other financial transactions. They can be used in retail stores, restaurants and just about anywhere that they are accepted. You can use some gift cards on an Automated Teller Machine to withdraw cash.

Gift cards can either be categorised as Open-loop and Closed-loop gift cards or Physical gift cards and Digital gift cards(also known as E-code).

Our focus for this article is digital gift cards.

E-codes
e-codes

E-codes are digital gift card codes purchased online and mostly sent to the buyer’s email address. They are usually referred to as virtual gift cards or digital gift cards. E-codes are easier and more convenient to use compared to physical gift cards, however, extra cautions have to be exercised to make sure you are not scammed while trying to buy or sell them. Because e-cards are mostly traded online, it becomes very prone to fraudulent activities.

 

How E-codes work

 

E-code work just like physical gift cards. Just like the way you have a PIN code written on the back of a physical gift card that you reveal by scratching the seal, an e-code also have a PIN associated with it for security purpose. 

 

E-code gift cards PIN codes are sent to your email address or phone number depending on the merchant. When you redeem the code, you input the code on the checkout web page and transact. If you want to use it in a physical store, it is advisable to print out the code to check out at the store. Note, not all e-code gift cards are accepted in-store, some merchants use e-code strictly for online purchases.

 

To avoid the non-delivery of email, it is advisable to patronize merchants who carry out scheduled deliveries. If you plan to gift someone on a particular date, this is the best path to follow:

How to Send an E-code Gift Card

To send your E-code gift card to a loved one, follow these steps;

 

  • Visit the website of the merchant you want to patronize example, Amazon, AMEX, Sephora, Nike, Netflix and so on. 
  • Select the eGift card option you want to send out. 
  • Determine the amount you want to send out.
  • Fill in the details of the recipient, the name, and email address. 
  • If you want to send a personal message, add the message. 
  • Add the gift card to your cart and checkout on the website.

 

Benefits of Digital Gift Codes

 

  • Convenience & Security: the convenience associated with using an e-code gift card has been one of its most significant advantages. The time wastage and physical stress involved in going to a store to get a physical gift card are eliminated since you can conveniently purchase an e-code directly from the merchant’s website at any time and the e-code will be sent to the email or phone number you provided.

Another huge advantage e-code has over physical gift cards is its security. When you buy an e-code directly from a merchant, there is no middle-man, so there is no chance of anyone tampering with your gift card before it gets to you. Whereas, if you purchase physical gift cards in-store or online, there is the probability that a fraudulent actor might have tampered with the seal and stole the funds in the gift card before it gets to you.

 

  • They cannot be lost: Unlike the physical cards which you can misplace, the digital codes are ordered online and sent to your email address or phone number (whichever is provided), and the details can easily be accessed through your device contact information provided. Unless your device is stolen or compromised there is no chance of misplacing your e-code.

 

  • You can resell them for cash: Just like physical gift cards, you can also sell e-codes for cash with gift card trading platforms like Tacit Exchange. For more information visit the Tacit exchange website.

 

How to trade your E-code gift card on Tacit Exchange

 

  • The first step is to log in if you already have an account or sign up if you are a new user. 
  • Click on start trade on your account dashboard. Select the type of card and the denomination on the field under. Proceed to place order
  • Add your bank details to your wallet. You can choose to receive funds to this wallet or directly into your bank account.
  • Funds will be sent immediately after your gift card validity is confirmed.

 

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