One of the most common questions we get: 'How do you decide the rate?' Here's a transparent breakdown.
The Base: USD/NGN Exchange Rate
Everything starts with the current USD/NGN rate. As of early 2025, the parallel market rate sits around ₦1,650–₦1,700 per dollar. Gift card rates are always a percentage of this base rate.
The Discount Factor
Gift cards trade at a discount to raw USD because there's friction involved — we have to resell them, which takes time and carries risk. The typical discount is 8–12% below the parallel market rate, which is why a ₦1,700/dollar market gives you ₦1,480–₦1,560/dollar on cards.
Why E-Codes Pay More Than Physical Cards
Physical cards carry risk: they can be damaged, tampered with, or have had the PIN scratched off prematurely. E-codes eliminate this risk entirely, so they command a higher price.
How Demand Shifts Rates
When demand for a specific card type is high — say, before a major US shopping event — rates improve. When supply is high and resale demand is low, rates dip. This is why rates change daily.
