Simply put, mobile gift cards are able to be used via smartphones. This has become a popular gift idea, mainly due to the fact that they can be drawn from a phone without any hassle. Of course, one can argue that they have downsides. The discussion of pros and cons is what we will get into today. Courtesy of Bob Jain and other minds in finance, here are the pros and cons of mobile gift cards you should be aware of.
PRO - Less space will be needed. One of the biggest benefits of mobile gift cards, according to the likes of Robert Jain, is that they don't take up physical space. For instance, if you carry your wallet everywhere, you may have numerous credit cards as well. The idea of adding another card or two is unlikely to you. However, these digital cards can be accessed from smartphones and mobile devices, which results in more physical real estate to use as you'd like.
CON - The rules and restrictions of mobile gift cards vary. If you were to do research on gift card options, you will find that their individual guidelines differ in certain ways. What this means is that you may have to study up on them, especially if you're planning on giving a mobile gift card to a loved one. You don't want to give someone a card that has funds that expire or fewer places where it can be used. In simple terms, don't assume that every mobile gift card is alike.
PRO - Mobile gift cards have great accessibility. Have you ever left the house to go shopping, only to realize that you left your credit card at home? This is a realistic situation, but mobile gift cards more or less prevent this from occurring. Everyone carries their smartphones with them, which means that the information stored on them comes along for the ride. Mobile gift cards are accessible from any location, as long as you have your phone.
CON - Not everyone will respond positively to mobile gift cards. Gift cards in general are unique in the sense that people respond to them differently. If one of your friends loves them for the convenience factor, another friend may see them as impersonal. This is a caveat that gift buyers should be aware of. Not everyone will see this idea in a positive way, so use common sense when shopping around.
PRO - Less space will be needed. One of the biggest benefits of mobile gift cards, according to the likes of Robert Jain, is that they don't take up physical space. For instance, if you carry your wallet everywhere, you may have numerous credit cards as well. The idea of adding another card or two is unlikely to you. However, these digital cards can be accessed from smartphones and mobile devices, which results in more physical real estate to use as you'd like.
CON - The rules and restrictions of mobile gift cards vary. If you were to do research on gift card options, you will find that their individual guidelines differ in certain ways. What this means is that you may have to study up on them, especially if you're planning on giving a mobile gift card to a loved one. You don't want to give someone a card that has funds that expire or fewer places where it can be used. In simple terms, don't assume that every mobile gift card is alike.
PRO - Mobile gift cards have great accessibility. Have you ever left the house to go shopping, only to realize that you left your credit card at home? This is a realistic situation, but mobile gift cards more or less prevent this from occurring. Everyone carries their smartphones with them, which means that the information stored on them comes along for the ride. Mobile gift cards are accessible from any location, as long as you have your phone.
CON - Not everyone will respond positively to mobile gift cards. Gift cards in general are unique in the sense that people respond to them differently. If one of your friends loves them for the convenience factor, another friend may see them as impersonal. This is a caveat that gift buyers should be aware of. Not everyone will see this idea in a positive way, so use common sense when shopping around.
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