Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,174,011 members, 7,890,320 topics. Date: Monday, 15 July 2024 at 12:34 PM

Chinese Vendor Scams - Complete Review And Alternatives Naija Reviews - Nairaland / General - Nairaland

Nairaland Forum / Nairaland / General / Chinese Vendor Scams - Complete Review And Alternatives Naija Reviews (1616 Views)

Cheapest Way To Buy Mtn Data: A Whooping %60 Off - Naija Reviews / Get Access To Apple Music Without An ATM Card In Nigeria - Naija Reviews / Hanwha Q Cells Solar Panels: Complete Review (2) (3) (4)

(1) (Reply)

Chinese Vendor Scams - Complete Review And Alternatives Naija Reviews by NaijaReviews: 8:36pm On Feb 15, 2023
The Nigerian gift card market is one of the largest and most underrated markets in Nigeria, Millions of Dollars are traded daily on this market, with thousands of Nigerians. Nigeria is the largest supplier of gift cards in Africa, so we are the target audience for Chinese vendors.

Chinese Gift card vendors are China-based and get gift cards from underdeveloped countries like Nigeria at a meager exchange rate and then sell them back to gift card stores or people in need and earn a fortune.
What are Giftcards
Just like your fiat notes,, they are money sent as gifts to loved ones, workers, etc.

Why do people send gift cards instead of money?
Gift cards are the most convenient ways to send money to loved ones, as they can be redeemed for cash in most Countries.

Are there Chinese sites to sell Giftcards
The answer to this is no, %99 of these acclaimed vendors trade strictly on WhatsApp as it is the best place to get as many Nigerians as possible.

Are there Gift card stores in Nigeria?
chinese scams ngreviews

Nigeria does not have a gift card store, and this made the Chinese startup their gift card markets here in Nigeria to make money out of our conditions.

The china Gift card Market
The Chinese gift card market has over 5000 buyers of gift cards and other digital assets, and from the verified record it has not less than %95 Scammers making it hard to differentiate between legit ones and scammers as the market is overcrowded. These buyers all work for top companies making the exchange rate relatively low, each level of trader takes out a reasonable amount as commission, so the rate you get depends on how closely you're to the main buyer.

Are there Nigerians who buy gift cards?
Yes, a good number of Nigerians are also buyers in this market, but %99 resell back to the Chinese making the exchange rate even lower as they would have to remove their personal commission again from the Chinese-provided rates.

Why do Nigerians sell to Chinese vendors instead of Nigerian Gift card Companies?
Most Nigerian Gitcard companies buy at a rate far lower than that of the Chinese
making most suppliers choose the Chinese over their own companies. and the rate difference is because these companies resell back to china.

How Trustworthy are Chinese Vendors?

Chinese scams ngreviews

From accurate research done by Naija Reviews, only %55 of trades initiated with Chinese vendors have been recorded successfully. The Chinese knowing well that we can't file a court case nor make a report about them have been consistently defrauding us for years without fear, they do this amicably by making the first 3 transactions seamless, gaining the customer's Trust and then defrauding you of the next transaction claiming you sent an invalid card. Most people are left with no choice but to trade again as they have been blindfolded by the trust.

Are there Nigerian Companies that Trade directly to stores without the Chinese?
Yes they are not common, but research has shown there are, and they offer higher rates and a %97 success rate
A few of Them are: View Complete Post

(1) (Reply)

Thank God We're Not A Ghanians. . .lol / What Do You Think Of The 2go Hidden Star? / PICTURE - A Police Officer Ordered To Arrest A Lady End Up Sleeping With Her.

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 18
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.