What Are Mastercard Gift Cards?
A Mastercard Gift Card is a pre-paid, reloadable card issued by Mastercard. It allows users to purchase goods and services wherever Mastercard is accepted, without the need for cash or a checking/savings account. The card is loaded with a specific amount set by the giver, and can be used for shopping, dining, travel, and more. It’s a convenient, secure, and flexible gift option, often personalized with the recipient’s name. Once the balance is used up, the card can be reloaded or replaced, making it a versatile choice for gift-giving.
Mastercard’s Gift Cards: Converting Them into Nigerian Naira Quickly
How much is a Mastercard Gift Card $20 In Naira Today?
Card Type
USD
Naira
Mastercard
5
6,250 ~ 7,750
Mastercard
20
25,000 ~ 31,000
Mastercard
30
37,500 ~ 46,500
Mastercard
50
62,500 ~ 77,500
Mastercard
100
125,000 ~ 155,000
Mastercard
200
250,000 ~ 310,000
Mastercard gift cards can be purchased in many countries around the world. However, the availability of Mastercard gift cards may vary depending on the country due to local regulations, partnerships, and distribution channels. Here are some countries where Mastercard gift cards are generally available:
- United States
- United Kingdom
- Canada
- Australia
- New Zealand
- France
- Germany
- Italy
- Spain
- Netherlands
- Sweden
- Norway
- Switzerland
- Austria
- South Africa
- Hong Kong
- Singapore
- Malaysia
- United Arab Emirates
- India
- Brazil
- Mexico
- Argentina
- South Korea
- Japan
- China
It’s always best to check with a local Mastercard issuer or authorized retailer for the most accurate and up-to-date information regarding the availability of Mastercard gift cards in a specific country.
Common Errors Of Mastercard Gift Cards
Expiry Date: Misunderstanding of expiry dates; cards may expire, but they can often be replaced or extended.
PIN Retrieval: Difficulty in finding PIN; it’s typically on the back or in the packaging, or can be requested online.
Use Outside the U.S.: Misconception that they’re only for domestic use; many are valid worldwide.
Limited Balance: Confusion over balance; check the card for remaining funds before use.
Replacement: Belief that lost cards can’t be replaced; they can be reported and a new one issued.
Customization: Misinformation on customization options; while some offer personalization, not all do.
Cash Withdrawals: False impression of cash withdrawals; typically not available, only purchases.
Factors that Determine Mastercard Gift Card Rates
Exchange Rates: The fluctuation of the Nigerian Naira against foreign currencies impacts the cost of gift cards. As the Naira depreciates, the price of foreign currency-denominated gift cards increases in Nigeria.
Supplier Costs: The expenses incurred by suppliers, such as processing fees and shipping costs, contribute to the overall price of gift cards. Higher costs lead to increased prices for consumers.
Distribution Channels: The method of distribution, whether online or through physical stores, can affect the price. Online channels might offer lower prices due to reduced overhead costs.
Promotions and Discounts: Companies often run promotions or offer discounts on gift cards to increase sales. These promotional activities can influence the perceived value and price of gift cards.
Market Demand: High demand for certain gift cards can lead to increased prices. Conversely, lower demand may result in discounts or lower prices.
Card Issuer: Different card issuers may charge different fees, which can affect the final price of the gift card.
Additional Services: Some gift cards may offer additional services, such as insurance or reward points, which can add to the cost.
Regulatory Factors: Government regulations and taxes can also influence the price of gift cards. Compliance costs are passed on to consumers.
Currency of the Gift Card: The currency in which the gift card is denominated can affect the price. Cards in popular currencies like USD or EUR may be more expensive due to higher demand.
Warranty and Support: Cards that offer extended warranties or customer support services may be priced higher to cover the costs associated with these benefits.
Understanding these factors helps consumers make informed decisions when purchasing gift cards in Nigeria.
References for How much is a $20 Mastercard Gift Card In Nigeria?