Answered by Shaykh Taha Abdul-Basser
Question: As salam alaykum,
Sometimes one receives gift cards to stores that one does not plan to visit. Is it permissible to sell these gift cards for less than their face value? For example, may I sell a gift card good for $25 worth of merchandise at a particular clothing store to a friend for just $20?
Answer: Wa alaikum assalam wa rahmatullah,
It is permissible for an individual to sell a gift card to someone else, provided that the restrictions issued by the commercial vendor/issuer do not prohibit selling it to a third party and prevailing custom does not prohibit such sales, since vendor-issued gift cards that entitle their holders to certain quantities of merchandise for free (or for a reduced priced) represent unilateral obligations (iltizamat) issued by such stores. These obligations or undertakings–by which the stores bind themselves (i.e. promise) to providing certain gifts or services for specified prices–give rise to rights that the holder (subject to restrictions) may make objects of sale.
And Allah alone knows best.