Mar 24, 2024
What does Magichs do? Why sell assets at a discount?
Magichs is an online store that sells virtual credit cards at a discount. Why the discounts? Because the virtual credit card market is nearly saturated. Many companies, after signing agreements with Visa and Mastercard and securing authorized credit limits, are unable to sell all of them. They also cannot terminate their contracts with Visa and Mastercard and receive refunds, as obtaining credit limits from Visa and Mastercard requires paying an equivalent amount in cash. Therefore, selling these unsold credit limits at a discount is a good way to quickly convert them into cash. Magichs buys these virtual card companies in bulk, acquiring their unsold cards at the lowest possible price, adding a reasonable profit margin, and then selling them to users worldwide.