Gift cards have become a popular gift option in India, offering flexibility and allowing recipients to choose what they truly want. They are suitable for various occasions like festivals and birthdays and cater to diverse lifestyles in retail, dining, travel, and online shopping.
With digital adoption on the rise and a growing demand for personalised gifting options, India’s gift card market is booming. It is projected to grow by 16.6% annually, reaching USD 10.45 billion by 2025. Following a strong 18.6% CAGR from 2020–2024, it is expected to reach USD 18.03 billion by 2029, with a 14.6% CAGR.
In this blog, we’ll discuss the types of gift cards available in India, how they work, how and where to purchase them and tips for using them wisely.
Table of Contents
What Are Gift Cards?
Gift cards are essentially prepaid cards that function like cash and can be used to purchase products or services from specific retailers or online platforms in India. They come in two forms: physical cards made of plastic that can be swiped at stores, and digital e-gift cards delivered via email or SMS, usually redeemed online using a unique code.
These cards are preloaded with a fixed amount and are available in various denominations such as ₹100, ₹500, or ₹1,000, making them suitable for different budgets.
Some gift cards are brand-specific, valid only at stores like Amazon, Flipkart, or Lifestyle, while others—like prepaid Visa, RuPay, or Mastercard gift cards—can be used at any merchant that accepts those card networks. Gift cards are a popular and convenient gifting option, offering recipients the freedom to choose what they want.
Top 5 Popular Types of Gift Cards in India
India offers a wide array of gift card options, catering to different interests and needs. Here are the top five types of gift vouchers popular among Indian consumers:
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E-commerce Gift Cards
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Popular brands: Amazon Pay eGift Card, Flipkart EGV
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Can be redeemed for millions of products across various categories on the respective e-commerce platforms
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Instant delivery via email, available 24×7
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Customisable with personal messages or images
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Restaurant Gift Cards
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Popular brands: Domino’s Pizza Gift Voucher, Swiggy, Zomato
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Can be used to order food from the respective restaurant chains or food delivery platforms
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Available as both physical and digital gift cards
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Ideal for food lovers and those who enjoy dining out
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Entertainment Gift Cards
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Popular brands: BookMyShow Gift Card, Netflix, Amazon Prime
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Can be redeemed for movie tickets, events, plays, and streaming services
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Perfect for movie buffs, theatre enthusiasts, and binge-watchers
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Instant delivery and easy redemption process
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Lifestyle & Fashion Gift Cards
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Popular brands: Lifestyle Gift Vouchers, Shoppers Stop, Myntra eGift Card
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Redeemable for a wide range of fashion and lifestyle products
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Available as e-gift cards and physical cards
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Suitable for fashion-forward individuals and shopaholics
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Prepaid Visa/Mastercard Gift Cards
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Popular brands: OneCard Gift Card
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Accepted at millions of merchants across India
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Can be used for online and offline purchases wherever Visa or Mastercard is accepted
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Offers flexibility and wide usability compared to brand-specific gift cards
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These different kinds of gift cards cater to a wide range of preferences and interests, making them popular among Indian consumers for various gifting occasions.
How to Purchase Gift Cards in India?
Purchasing gift cards in India is a simple and convenient process, with multiple options available:
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Online: Many e-commerce platforms, such as Amazon and Flipkart, offer gift cards that can be purchased directly from their websites. Additionally, dedicated gift card platforms like GiftCardsIndia and Woohoo provide a wide selection of gift cards from various brands.
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In-Store: Physical gift cards can be purchased from retail outlets, shopping malls, and dedicated gift card displays in stores. This option allows you to obtain the card instantly and offers the opportunity to view the card design in person.
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Mobile Apps: Some brands and platforms have their own mobile apps that facilitate the purchase of gift cards. This method provides the convenience of buying gift cards on the go using your smartphone.
Gift cards are available in both physical and digital formats, offering flexibility to suit individual preferences.
Common Uses for Gift Cards in India
Gift cards have become a popular choice for various purposes in India, including:
- Gifting: Whether it’s for a birthday, anniversary, or festival like Diwali, gift cards make excellent presents that allow recipients to choose what they want.
- Personal Purchases: Many people buy gift cards for themselves to shop for items they want, such as clothing, electronics, or entertainment subscriptions.
- Corporate Gifting: Companies often use gift cards as employee rewards, incentives, or client gifts to show appreciation and build relationships.
- Online Shopping: Gift cards have become a preferred payment method for online purchases, offering a secure way to shop without sharing credit card details. Gift cards are a practical and appreciated choice for corporate gifting.
Tips for Safely Using Gift Cards
While gift cards are generally safe to use, it’s essential to be aware of potential scams and take precautions to protect yourself:
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Buy from Trusted Sources: Always purchase gift cards from authorised retailers or reputable platforms to avoid falling victim to fraudulent schemes.
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Check the Balance: Before making a purchase, verify the balance on your gift card to ensure there are sufficient funds available.
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Avoid Sharing Details: Never share your gift card number, PIN, or other sensitive information with unknown individuals or over unsecured channels like email or phone.
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Secure Storage: Keep your physical gift cards in a safe place and consider storing the details of digital gift cards in a secure password-protected app or digital wallet.
Conclusion
Gift cards have transformed gifting in India, offering a convenient and versatile choice for various occasions. With options ranging from e-commerce to lifestyle cards, there’s something for everyone.
The ability to purchase gift cards online, in-store, or via mobile apps has fueled their popularity. They serve personal, gifting, and corporate needs, providing a flexible and secure purchasing method.
However, caution is essential to avoid scams. Always buy from trusted sources, check balances, and keep personal information secure to safely enjoy the benefits of gift cards in India’s digital economy.
Frequently Asked Questions
Can I use a gift card for international purchases?
It depends on the specific gift card. Some prepaid Visa or Mastercard gift cards may allow international transactions, while others are limited to domestic use. Always check the terms and conditions of the gift card before attempting to use it for international purchases.
Are gift cards refundable?
In most cases, gift cards are non-refundable and cannot be exchanged for cash. However, some retailers may offer a refund or exchange if the card is defective or if there is an issue with the purchase. It’s best to check the refund policy of the specific gift card issuer.
How can I avoid gift card scams?
To protect yourself from gift card scams, always purchase gift cards from authorised retailers or reputable platforms. Be cautious of unsolicited offers or deals that seem too good to be true, and never share your gift card details with unknown individuals or over unsecured channels.
Can I combine multiple gift cards for a single purchase?
The ability to combine multiple gift cards depends on the retailer or platform. Some merchants allow you to use multiple gift cards for a single transaction, while others may restrict it. It’s best to check with the specific retailer or refer to their gift card terms and conditions for clarification.
