How To Buy And Sell Apple Gift Cards

Apple previously offered two distinct gift cards: an Apple Store gift card for in-store purchases and an iTunes gift card for purchasing content such as apps, games, TV shows, and movies. These gift cards were later combined to become the all-in-one Apple gift card, labeled “the gift card for everything Apple” on the package.

An Apple store gift card is a prepaid international payment card that can be used in place of cash or other payment cards. It is used to purchase Apple hardware from both physical and online Apple Stores. The iPhone, iPad, and iWatch are just a few examples of what they can redeem for you. Apple gift cards are available in grey, gold, white, and black.

A Brief History Of Apple As A Company

Apple Inc was founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne, who began by selling personal computers. Their product became an immediate market success. Throughout its early years, the corporation experienced ups and downs, culminating in Steve Jobs’ departure. Jobs was persuaded to take over the company in 1997 to preserve it from failing in the market. 

Steve Jobs accomplished this through an advertising campaign and by introducing new products. In 2001, the company launched an Apple store retail chain to sell Apple hardware products. Six years later, the company released the iPhone; the rest is history.

 

Today, Apple Inc. is the most valuable firm in the business world and the largest revenue generator in the ICT industry. Apple stores are now available online, thanks to the internet. The online store sells Apple items such as iPhones, iPads, and iWatches. To pay for these products, either online or in person, you must use cash, a debit card, or an Apple gift Card.

 

How To Buy And Use Apple Gift Cards

 

The simplest way to purchase an Apple gift card is online, at the Apple Store gift cards webpage. There, you can mail the recipient a physical Apple gift card or send the recipient an e-gift card by email. You can also buy a physical gift card at your local Apple retail shop.

 

Apple gift cards range in value from $25 to $2,000 and are not reloadable or redeemable for purchase in the iTunes Store, App Store, or any Apple reseller. You can’t resell them, use them to buy additional Apple gift cards, or get cash back from them.

 

Where Can I Buy An Apple Gift Card?

 

The only physical location that sells Apple Store gift cards is the Apple retail store, as you must purchase them directly from Apple. These shops can be found everywhere in the world.

 

However, you can buy Apple gift cards in Nigeria via Mintyn. Mintyn is a top digital bank in Nigeria that offers various financial services to cater to its customers’ needs. The platform also has an online marketplace to shop for your groceries and an online gift card store to buy your preferred gift card. So you can buy your Apple gift card on Mintyn within the price range of $2 and $100 in the equivalent of the Nigerian naira.

 

How To Buy Apple Gift Cards On Mintyn

 

• Download a Mintyn app on your Android or Apple device.

 

• Create a Mintyn account and verify your account.

 

• Log into your Mintyn account. 

 

• Click on the “Gift Cards” tab.

 

• Click on “United States” as the gift card country.

 

• Select “Apple”

 

• Enter the “Amount” of the Apple gift card in USD that you want to buy. This ranges from $2 to $100.

 

• Enter the beneficiary details. This includes the beneficiary’s name, phone number, and beneficiary email.

 

• Enter your “Transaction PIN”

 

The purchase is completed, and the Apple gift card will be transferred to your recipient email.

 

What Can You Buy With Your Apple Gift Cards?

 

Apple gift cards are an excellent option for someone who likes Apple products and wishes to load up on accessories, apps, or entertainment items. Some Apple products you can get with your Apple gift card include:

 

1. Smartphones and Tablet
2. Macbook
3. Smartwatch
4. Airpods
5. Overhead Headphones
6. Speakers
7. Wired Headphone
8. Wireless Headphone
9. Hubs and Ducks 
10. Camera Accessories
11. Cable & Interconnect
12. Power Banks, and many more.

 

However, many people need help with how to use them properly to get the most out of their money. Here are some helpful hints for making the most of your Apple gift card:

 

1. Buy From iTunes Or The App Store Directly

 

The simplest way to ensure your gift card is fully utilized is to buy media items like music, movies, TV series, ebooks, and apps. This enables you to benefit from all the advantages of having an account, such as automatic downloads of bought media as new content is made available.

 

2. Exchange Used Apple Devices For Store Credits

 

Apple participates in schemes where used devices can be traded for store credit. By purchasing refurbished or used gadgets instead of brand-new ones, you may save money while still enjoying all the advantages of owning Apple goods.

 

3. Get Great Discounts On Accessories

 

If you have an Apple gift card for someone who already has a Mac or an iPhone, purchasing accessories such as speakers, keyboards, cases, and other peripherals is always a fantastic idea.

 

How To Add Apple Gift Card To Wallet

 

You must first activate the card by visiting the Apple website. Once the card has been activated, you may add it to your Wallet by scanning the barcode with your iPhone’s camera or manually entering the card information.

 

Once you’ve added the gift card to your Wallet, you can use it just like any other credit or debit card. You may check your balance and use it to purchase at any Apple Pay store.

 

How To Sell Apple Gift Cards

 

Apple gift cards can be redeemed for Apple products at physical Apple Stores. It should be noted that Apple-branded gift cards are only redeemable in the country of purchase. You can also save Apple products from the Apple online shop from the convenience of your own home. 

 

However, if you don’t want to redeem your Apple card for Apple products, you can sell them for cash. Selling gift cards is one of the lucrative ways to make money online these days as most k these gift cards have a higher resale value, and Apple gift card is one of them.

 

Moreover, you can sell your Apple gift card in the following ways:

 

1. Sell Your Apple Gift Card On A Trusted Website

 

Various websites will buy your Apple gift card and pay you to cash in exchange. Some websites may even give you prepaid postage to deliver your gift card to them. Some websites will buy a digital gift card from you immediately if you have one. Before selling your card, make sure to read reviews on the website.

 

2. Sell Your Gift Card On An App

 

Some businesses also offer a mobile app through which you may sell your Apple gift card. Download the app, send in your card, and select your preferred payment option. Typically, that business will take 15% of the gift card’s value as a commission.

 

3. List Your Apple Gift Card On An E-commerce Website

 

If you do not want to sell your gift card to a website, you can list it on a website like eBay or Craigslist. You can also sell your gift card in real time for the same price it is worth, but it will usually sell faster if you sell it for less. Remember that websites like eBay will almost certainly take a share of the sale.

 

Conclusion

 

Apple gift cards open you to a myriad of opportunities ranging from getting different Apple products to making some money when you sell the card. Its benefits are all-encompassing, no doubt.

 

However, it is essential to buy your Apple gift card from the Apple Store, or better still, a trusted gift card store like Mintyn, as we offer the best rates you can’t find anywhere. Also, endeavor to sell your Apple gift card on credible platforms to avoid being a victim of fraud.

What Is Commercial Banking? Its Functions And Operations 

Commercial banking is a collection of bank services and products made to cater to the financial requirements of government, medium-sized, and corporate clients. Deposit accounts, commercial financing options, merchant services, and investment goods fall under this category.

This contrasts with retail banking, which provides comparable financial services to individual clients and the general public. In most situations, the same banking provider offers both natural and retail banking services. One or both of those banking categories will be used by banks to provide goods and services to small companies.

Business banks and commercial banks simultaneously serve small and medium-sized (SME) businesses. In this instance, you may divide the customers into small business and commercial banks, depending on whether they fit the middle market or business bank criteria. 

Regardless of segmentation, banks help businesses that depend mainly or exclusively on owner support. This dependence decreases as a company’s size and complexity reach or exceeds the mid-market. A commercial bank often caters to companies with less complex requirements than those supported by corporate banking and investment banking experts.

 

There are twenty-four commercial banks in Nigeria, and these banks with similar services, perhaps, varying approaches to serve individuals and small and medium-sized businesses with their financial needs.

 

Functions Of Commercial Banking

1. Money Deposits

 

A commercial bank’s most frequent duty is taking deposits. These accounts frequently offer depositors interest, but they also often have monthly fees that can be avoided by maintaining a minimum balance or transaction volume.

 

Commercial banks usually accept money deposits in three types of accounts:

 

• Current accounts: these are the most popular type of bank account. Although they do not yield interest, current accounts enable customers to withdraw money whenever they want without giving prior notification.

 

• Savings accounts: these smaller accounts often have interest earned on them. There can be restrictions on when and how much money can be taken out.

 

• Fixed deposits: These accounts hold money for a predetermined time and allow withdrawals only after paying a stiff financial penalty.

 

2. Lend Funds

 

Commercial banks provide businesses with funds to grow, meet financial needs, acquire a new property, etc. These businesses or companies are expected to repay the bank’s funds with interest until the loan is paid off.

 

Commercial banks offer different types of loans, and they include:

 

• Commercial term loan: a short-term loan product that businesses use to finance inventories, equipment, or cash flow. Loans have a predetermined term, typically less than ten years, and are fully repaid after that time.

 

• Cash credits: instead of providing a business with a loan, the commercial bank permits the company to draw funds from established deposit accounts. When a firm borrows money, interest is only charged on the amount that has been used. 

 

3. Agency And Advisory 

 

Commercial banks offer services to help with their client’s business requirements. Some of these tasks consist of the following:

 

• Insurance

 

• Bills payment

 

• Investment products

 

• Purchasing or redeeming securities

 

• Act as executor, administrator, or trustee of a client’s estate

 

• Help prepare income tax returns and claim tax refunds.

 

4. Other Financial And Utility Services

 

In addition to deposit, loan, and agent services, businesses frequently require extra services from their commercial banks. Along with these business services, retail banks:

 

• Foreign currency exchange

 

• Debit and credit cards

 

• Overdraft fee protection

 

• Money transfer, including wire services

 

• Discounting bills of exchange

 

What Are Commercial Banking Products And Services?

 

Beyond only deposit accounts, commercial banks offer a variety of services that are advantageous to businesses. They are set up in the same way for companies and private clients.

 

Here are some other services provided by commercial banks in addition to deposit accounts:

 

• Merchant services: most commercial banks provide merchant services, such as credit card processing, gift cards, mobile payment options, and electronic check services.

 

• Corporate products and services: these include insurance products made for corporations and organizations, payroll services, advisory services, employee stock ownership programs, and retirement products.

 

• Loans and other lending services: commercial banks mostly derive their earnings from lending. Commercial banks make money by lending to businesses in the form of interest, which is paid to them by the borrowers.

 

• Global trade services: this includes foreign exchange, foreign trade finance, letters of credit, international payments, export financing, and bank guarantees.

 

• Treasury management services: commercial banks provide money collection, money distribution, and fraud protection services.

 

What Are The Drawbacks Of Commercial Banking?

 

Business accounts or commercial banking are frequently more expensive than standard bank accounts. For night deposits, processing a specific amount of checks, and payroll services, banks may levy fees.

 

Some of the services supplied might not be necessary depending on the size of your organization, but you might still be charged for them even if you’re not fully utilizing them. It might be challenging to compare the services offered by various banks because they may provide different services and levy additional costs.

 

Before your company is ready for one, opening a commercial account will cost you money and could hinder your company’s expansion. If you select the incorrect bank, you can find it challenging to open a new account and transfer money.

 

List of Commercial Banks in Nigeria?

 

S/N	COMMERCIAL BANKS
1.	Access Bank Plc
2.	Citibank Nigeria Limited
3.	Ecobank Nigeria Plc
4.	Fidelity Bank Plc
5.	First Bank Nigeria Limited
6.	First City Monument  Bank Plc
7.	Globus Bank Limited
8.	Guaranty Trust Bank Plc
9.	Heritage Banking Company Ltd
10.	Keystone Bank Limited
11.	Polaris Bank Plc
12.	Premium Trust Bank
13.	Providus Bank
14.	Stanbic IBTC Bank Plc
15.	Standard Chartered Bank Nigeria Ltd
16.	Sterling Bank Plc
17.	SunTrust Bank Nigeria Limited
18.	Titan Trust Bank Ltd
19.	Union Bank of Nigeria Plc
20.	United Bank For Africa Plc
21.	Unity Bank Plc
22.	Wema Bank Plc
23.	Zenith Bank Plc
24.	Parallex Bank Ltd

 

Conclusion

 

Commercial banking is the intermediary between individuals or businesses and different financial products and services that are available. You can make money deposits, access loans, seek financial advisory, and whatnot from commercial banks, as they are always a team of professionals that caters to your varying financial needs.

 

However, it is essential to digest the functions and drawbacks of commercial banks concerning the different bank accounts you can create with them, as they are regulated by law. In Nigeria, commercial banks are regulated by the Central Bank of Nigeria (CBN).

What Are Virtual Card Payments, And What Are Their Benefits?

 

Virtual models influence daily life, from home offices to the metaverse. The use of digitization in business has opened the windows of data-driven decisions and automation in the way of doing business. So when these virtual models disrupt the norm of making payments in the business world, there is a need to mull over making virtual card payments as a business innovation. 

A virtual card is a unique 16-digit number designed for a single payment transaction between the payer (sender) and the payee (receiver). It is a digital payment solution created to speed up processing times, decrease errors, and improve obsolete procedures. However, virtual card payments in an effective way such that they are fully secure. 

 

Unlike physical cards, you can not use virtual cards in physical form. Virtual card payments are becoming increasingly common in business, especially in making cross-border payments, as they enhance business productivity through the features of a swift and secure payment system. 

 

Business-to-business (B2B) payments are predicted to make up 71% of virtual card payments by 2026, albeit accounting for a much lesser rate of all transactions.

 

Before we further look into where you can use your virtual card and all of its numerous benefits, let’s look briefly into the different virtual dollar cards you can choose from, with the “Mintyn Virtual Dollar Card” being one of the best and most reliable. 

 

S/N	VIRTUAL DOLLAR CARD
1.	Mintyn Virtual Dollar Card
2.	Fundall Virtual Dollar Card
3.	Bitsika Virtual Visa Dollar Card
4.	Eversend Virtual Dollar Card
5.	Wallets Africa Virtual Dollar Card
6.	ALAT Virtual Dollar Card
7.	Barter by Flutterwave Virtual Dollar Card
8.	Kuda Bank Virtual Dollar Card
9.	Payday Virtual Dollar Card
10.	Chipper Cash Visa Virtual
11.	CashBuddy Virtual Dollar Card

 

Where Can I Use My Virtual Card?

 

Since virtual cards function similarly to physical cards, any organization that accepts traditional credit card payments should also be able to take virtual card payments. You can use a virtual card number when you use a regular credit card to pay for products and services. 

 

However, it is always important to check if a business brand supports digital payment methods like virtual card payment, PayPal, or even bank transfer before proceeding with the transaction with the platform. Also, you can use virtual cards to withdraw from bank ATMs and other online purchases.

 

It is noteworthy that you can only use virtual cards once. A virtual card has a card verification value (CVV) number, an expiration date, and a unique number. This, in turn, limits the virtual card’s use to amount, date of use, and business. 

 

Benefits Of Virtual Card Payments

 

1. Improved Accountability

 

As a business, you can track your expenditure better by providing some of your partners or workers with virtual cards. You will receive the transaction information of every payment or purchase in your payment system, giving you an account overview of your spending in a given period.

 

When you use virtual card payments, you do not have to manually track or reconcile your expenses, as these can be achieved automatically. Also, this electronic payment helps to put an end to keeping paper receipts, interpreting complex credit statements, or matching transactions to purchase orders. 

 

2. Enhanced Security

 

When you have virtual payment cards, you may not be requested by anyone to divulge your bank account details. This is owed to the fact that your bank account is never connected to payment details. The virtual credit card number is mainly made for a single transaction and given a predetermined value.

 

Virtual credit cards are permanently restricted to a set amount, time frame, and credit limit. For instance, the virtual card will not work if a scammer steals the details of the virtual card and tries to use it outside the time window of the card. 

 

Many people have been victims of loss of funds due to card theft, but the virtual card is designed to facilitate such risk. Virtual gift cards can not be compromised like the vulnerability of physical cards to robbery. 

 

3. Additional Transaction Details

 

Wire transfers and bank transfers are other alternatives to virtual card payments, but both of these two payment methods need to provide more space for remittance data. A wire transfer allows 140 characters for transaction data, and bank transfers allow 80 characters for transaction data; as such, they lack remittance data.

 

In the case of virtual payment cards, there is no space or character restriction on remittance data, so the transaction data is likely to be tailored to your need and system.

 

4. Better Expenditure Management

 

Despite businesses’ widespread adoption of digital technology, supplier payments are still frequently performed with physical cards or paper checks. The world of digital record keeping and almost instant payments makes expenditure control much more difficult due to these manual processes that can be monotonous.

 

Moreover, your business can only selectively approve virtual cards by some workers or partners. Transaction data by virtual card payments help track every spending detail of your employee while upholding your company’s policy compliance and controlling your cardholder’s spending behavior.

 

5. Reduced Processing Cost

 

Virtual cards have the potential to save costs. These electronic cards need more human processes that may have the propensity for delays or mistakes as they also have a short expiration time that reduces transaction processing time. 

 

In similitude to other digital payments, virtual payments are not characterized by inconsistencies between invoices and payments, reconciliation errors, and whatnot. Therefore, the seamless integration of virtual card payments with AP automation always reduces processing costs for buyers and suppliers.

 

Conclusion

 

Future-proof solutions are necessary for modern business, particularly in the financial sector. Therefore, virtual card payments are the best method of processing payments with many cost-saving advantages. 

 

However, businesses must do the due diligence of thorough research on how virtual card payments may improve their business transactions, from improving accountability to reducing processing costs.

Top E-commerce Websites For Online Shopping In Nigeria 2023

 

The e-commerce ecosystem in Africa is continually expanding, with Nigeria being the epicenter of business in the continent. This harps the rapid growth of internet facilities in Nigeria, which provides a viable alternative to traditional shopping in the country.

Today, there are numerous online shopping websites where you can sell and buy groceries, household appliances, electronics, furniture, and whatnot. Nigeria is currently the 39th largest eCommerce market, with over 76 million online shoppers. But electronics account for over 37% of the e-commerce business in Nigeria, making it the country’s most valuable e-commerce sector. In comparison, the food business is a fast-growing e-commerce sector, with a shopping rate of about 12%.

 

Therefore, this article discusses the best e-commerce websites for online shopping in Nigeria.

 

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Top E-commerce Websites For Online Shopping In Nigeria

 

S/N	Top E-commerce platforms
1.	Mintyn Marketplace
2.	Kusnap
3.	Jumia
4.	Konga
5.	Jiji
6.	Kilimall Nigeria
7.	Ajebomarket

 

1. Mintyn Marketplace

 

Mintyn Marketplace is an online store designed by Mintyn Bank. This shopping innovation is put in place to enable Mintyn customers to buy groceries of all kinds at lower prices. You are provided with the option of personal shopping or group shopping on the platform while you manage your funds within a specific budget if you so choose.

 

You can buy household items like an air freshener, pasta, toothpaste, fruit juice, a bag of rice, etc., from Mintyn Marketplace. Also, the platform allows you to buy drinks of all kinds at affordable prices without hidden charges.

 

Meanwhile, you must be a registered and active Mintyn customer to access this great feature that relishes your shopping experience.

 

2. Kusnap

 

Kusnap is a free online marketplace where you can buy and sell products of different kinds. This platform lets you list several products in various categories with fascinating features. These include snap-to-sell and chat-to-buy, which provide offers with a great shopping experience for both the buyer and the seller.  

 

Many products are available on Kusnap for purchase and sale in different categories. Examples are computers and their accessories, phones, cars, electronics, fashion items, etc. As an online marketplace where sellers meet buyers, Kusnap creates a trading environment to maximize profits at a low cost for buyers and sellers.

 

3. Jumia

 

Jumia is one of the best e-commerce websites in Nigeria, as it has been in business for over a decade with a huge customer base. Launched in 2012 in Nigeria, Jumia has walked and worked to become one of the biggest e-commerce platforms in Nigeria and, by extension, Africa.

 

Jumia is an online marketplace that enables you to buy numerous products from registered sellers on the platform. You can buy fashion items, groceries, electronics, clothing, phones, computers and accessories, furniture, and whatnot.  

 

Jumia also allows you to sell a wide range of products while it offers great deals for its customers. These include free shipping and sales events called “Black Friday,” an annual marketing campaign held between October and November to enable buyers to get different products at discounted prices. 

 

Jumia has become a behemoth online marketplace in other African countries like Ghana, Kenya, South Africa, and Egypt, with many warehouses spread across significant areas in Lagos, Abuja, etc.

 

4. Konga

 

Konga is a Nigerian online marketplace that enables you to buy various products of different categories. Founded in 2012, Konga offers a third-party online marketplace that allows you to purchase products like fashion items, phones, computers and accessories, home appliances, cosmetics, etc.

 

Konga has a “KongaPay” feature that is likened to the one-click payment method of Amazon, which enables its customers to have an easy and secure shopping experience. Also, the website has a 7-day return policy that allows you to return a product you purchase if it does not meet your specifications or satisfaction.

 

Moreover, Konga has a Black Friday promotion that enables its customers to buy different products at discounted prices, or in other instances, with free shipping.

 

5. Jiji

 

Jiji is an online marketplace where you can buy and sell products of different categories. Founded in 2014, Jiji is reputable for buying and selling electronics, fashion items, health & beauty products, mobile phones, and accessories, automobiles, and whatnot.

 

It is also interesting to note that you can buy the property and require varying services in Jiji, which makes it your one-stop online shop for products of different kinds. To begin selling on this platform, register, upload the image of your products, enter the specification of your products, and then click sell. Also, Jiji has a presence in other African countries like Ghana, Kenya, Uganda, and Tanzania. 

 

6. Kilimall Nigeria

 

Kilimall Nigeria is another top e-commerce website in Nigeria where you can buy products like clothing, computers and accessories, beauty products, groceries, etc. Kilimall offers a delivery service that takes 3 to 5 days to complete, making its service swift and easy.

 

You can also get your products at discounted prices when you use this online marketplace for varying intended purposes. 

 

7. Ajebomarket

 

Ajebomarket is an online marketplace that serves as a fashion store for different kinds of men’s clothing needs. You can buy men’s shoes, clothing, and other accessories. On this website, you can buy polo shirts, jeans, pants, blazers, sneakers, sandals, loafers, and jewellery products.

 

Ajebomarket has a 7-day return policy starting from the delivery date; unworn clothing must have all tags, labels, and accessories; shoes must be in the packaging box; and for watches, the guarantee and manuals must be present.

 

Other E-commerce site where you can shop online include:

 

S/N	E-commerce Platforms
8.	Printivo Store
9.	Slot.ng
10.	Kara
11.	Payporte
12.	Zith
13.	Ebeosi
14.	Glovo
15.	Obiwezy
16.	Bumpa

 

Conclusion

 

E-commerce businesses are now extending the frontiers of internet provision in Nigeria. Many people, especially young Nigerians, can now buy and sell products online at their convenience. Online shops typically offer delivery services and deliver products at reduced prices. Most of these e-commerce websites occasionally provide promotional services to their customers. 

 

However, do your due diligence of research on any e-commerce website you choose to trade on because it gives you a forehand idea of the products available on the platform.