What is gift card?
A gift card is a prepaid debit card that has a certain amount of money on it that can be used for various purchases.
How do they work?
Gift cards are a form of prepaid debit cards that hold funds for future use. There are usually two types of gift cards: Virtual cards and Physical cards. Both types can usually be used online and in person.
Many gift cards have a minimum and maximum initial download amount.
RBI has fixed a Maximum value of each such prepaid gift card that shall not exceed Rs.10,000/- while a fully KYC-compliant individual can now load up to Rs1 lakh in a prepaid instrument and transfer funds from his account to a prepaid or gift card issued to a family member, subject to a limit of Rs10,000 per cash-out and a ceiling of Rs25,000 per month.
In some situations, they can be used to pay for part of the purchase with cash, debit, or credit funds used to offset expenses. As a precaution to reduce the risk of loss, many gift cards can also be registered online – procedure that allows you to track the remaining balance and freeze it in case of loss of the card. Thus, Gift cards are safer than cash. In simple form, A gift card is a prepaid debit card that holds funds for future use.
Key findings
- • A gift card can be used in many stores, just like regular
debit cards.
- • One-time use or closed loop gift cards are usually not
replenished.
- • Although physical gift cards still dominate the market,
digital cards (eGift cards) are growing rapidly.
Gift card benefits
- • A great opportunity to make only the necessary and desired
gift;
- • The opportunity to save time on choosing and buying a gift;
- • Buy a gift in advance, and it will not lose relevance;
- • A guarantee that you will never give away what the person
already has.
How to use them?
You can use an Eezib gift card just like a usual debit card. You just need to go and select a payment method as pay with a debit card and use your gift card as a debit card for your payment.
What is brand vouchers?
A brand voucher is a discount code that you can use as a payment or discount for our partner's online shop goods purchases. Validity of Voucher is 12 months from the date of its purchase. A voucher is a bond of the redeemable transaction type which is worth a certain monetary value and which may be spent only for specific reasons or on specific goods. Examples include housing, travel, and food vouchers. The term voucher is also a synonym for receipt and is often used to refer to receipts used as evidence of, for example, the declaration that a service has been performed or that an expenditure has been made. Voucher is a tourist guide for using services with a guarantee of payment by the agency.
Here’s how you can get your Eezib Gift Card and Vouchers.
You can apply for Eezib Gift Card through Eezib Portal and contact us through E-Mail at Support@eezib.com or call us at: + 91 - 9782009070
