diff --git a/lib/ionia/ionia_create_state.dart b/lib/ionia/ionia_create_state.dart
index b0277be45..3c7dd17f2 100644
--- a/lib/ionia/ionia_create_state.dart
+++ b/lib/ionia/ionia_create_state.dart
@@ -56,3 +56,11 @@ class IoniaCardSuccess extends IoniaFetchCardState {
 
   final IoniaVirtualCard card;
 }
+
+abstract class IoniaMerchantState {}
+
+class IoniaLoadingMerchantState extends IoniaMerchantState {}
+
+class IoniaLoadedMerchantState extends IoniaMerchantState {}
+
+
diff --git a/lib/src/screens/ionia/cards/ionia_account_cards_page.dart b/lib/src/screens/ionia/cards/ionia_account_cards_page.dart
index f1d08a75e..bcce3bf13 100644
--- a/lib/src/screens/ionia/cards/ionia_account_cards_page.dart
+++ b/lib/src/screens/ionia/cards/ionia_account_cards_page.dart
@@ -1,7 +1,6 @@
-import 'dart:ffi';
 
+import 'package:cake_wallet/ionia/ionia_create_state.dart';
 import 'package:cake_wallet/ionia/ionia_gift_card.dart';
-import 'package:cake_wallet/ionia/ionia_merchant.dart';
 import 'package:cake_wallet/routes.dart';
 import 'package:cake_wallet/src/screens/base_page.dart';
 import 'package:cake_wallet/src/screens/ionia/widgets/card_item.dart';
@@ -106,6 +105,7 @@ class _IoniaCardTabsState extends State<_IoniaCardTabs> with SingleTickerProvide
                   _IoniaCardListView(
                     emptyText: S.of(context).gift_card_balance_note,
                     merchList: viewModel.activeMechs,
+                    isLoading: viewModel.merchantState is IoniaLoadingMerchantState,
                     onTap: (giftCard) {
                       Navigator.pushNamed(
                         context,
@@ -116,6 +116,7 @@ class _IoniaCardTabsState extends State<_IoniaCardTabs> with SingleTickerProvide
                   _IoniaCardListView(
                     emptyText: S.of(context).gift_card_redeemed_note,
                     merchList: viewModel.redeemedMerchs,
+                    isLoading: viewModel.merchantState is IoniaLoadingMerchantState,
                     onTap: (giftCard) {
                       Navigator.pushNamed(
                         context,
@@ -139,14 +140,24 @@ class _IoniaCardListView extends StatelessWidget {
     @required this.emptyText,
     @required this.merchList,
     @required this.onTap,
+    this.isLoading = false,
   }) : super(key: key);
 
   final String emptyText;
   final List<IoniaGiftCard> merchList;
   final void Function(IoniaGiftCard giftCard) onTap;
+  final bool isLoading;
 
   @override
   Widget build(BuildContext context) {
+    if(isLoading){
+      return Center(
+          child: CircularProgressIndicator(
+          backgroundColor: Theme.of(context).accentTextTheme.display3.backgroundColor,
+          valueColor: AlwaysStoppedAnimation<Color>(Theme.of(context).primaryTextTheme.body1.color),
+        ),
+      );
+    }
     return merchList.isEmpty
         ? Center(
             child: Text(
diff --git a/lib/src/screens/ionia/cards/ionia_manage_cards_page.dart b/lib/src/screens/ionia/cards/ionia_manage_cards_page.dart
index 7e4f02bf8..f8b28e69e 100644
--- a/lib/src/screens/ionia/cards/ionia_manage_cards_page.dart
+++ b/lib/src/screens/ionia/cards/ionia_manage_cards_page.dart
@@ -1,5 +1,6 @@
 import 'package:cake_wallet/di.dart';
 import 'package:cake_wallet/ionia/ionia_category.dart';
+import 'package:cake_wallet/ionia/ionia_create_state.dart';
 import 'package:cake_wallet/ionia/ionia_merchant.dart';
 import 'package:cake_wallet/routes.dart';
 import 'package:cake_wallet/src/screens/base_page.dart';
@@ -208,7 +209,10 @@ class _IoniaManageCardsPageBodyState extends State<IoniaManageCardsPageBody> {
   @override
   Widget build(BuildContext context) {
     return Observer(
-      builder: (_) => Stack(children: [
+      builder: (_) {
+        final merchantState = widget.cardsListViewModel.merchantState;
+        if (merchantState is IoniaLoadedMerchantState) {
+        return Stack(children: [
         ListView.separated(
           padding: EdgeInsets.only(left: 2, right: 22),
           controller: _scrollController,
@@ -241,7 +245,15 @@ class _IoniaManageCardsPageBodyState extends State<IoniaManageCardsPageBody> {
                 fromTop: widget.cardsListViewModel.scrollOffsetFromTop,
               )
             : Offstage()
-      ]),
+          ]);
+         } 
+         return Center(
+          child: CircularProgressIndicator(
+            backgroundColor: Theme.of(context).accentTextTheme.display3.backgroundColor,
+            valueColor: AlwaysStoppedAnimation<Color>(Theme.of(context).primaryTextTheme.body1.color),
+          ),
+        );
+      }
     );
   }
 }
diff --git a/lib/view_model/ionia/ionia_account_view_model.dart b/lib/view_model/ionia/ionia_account_view_model.dart
index a4875ec61..5801af1dd 100644
--- a/lib/view_model/ionia/ionia_account_view_model.dart
+++ b/lib/view_model/ionia/ionia_account_view_model.dart
@@ -1,4 +1,4 @@
-import 'package:cake_wallet/ionia/ionia_merchant.dart';
+import 'package:cake_wallet/ionia/ionia_create_state.dart';
 import 'package:cake_wallet/ionia/ionia_service.dart';
 import 'package:mobx/mobx.dart';
 import 'package:cake_wallet/ionia/ionia_gift_card.dart';
@@ -23,6 +23,9 @@ abstract class IoniaAccountViewModelBase with Store {
   @observable
   List<IoniaGiftCard> giftCards;
 
+  @observable
+  IoniaMerchantState merchantState;
+
   @computed
   int get countOfMerch => giftCards.where((giftCard) => !giftCard.isEmpty).length;
 
@@ -39,6 +42,8 @@ abstract class IoniaAccountViewModelBase with Store {
 
   @action
   Future<void> updateUserGiftCards() async {
+    merchantState = IoniaLoadingMerchantState();
     giftCards = await ioniaService.getCurrentUserGiftCardSummaries();
+    merchantState = IoniaLoadedMerchantState();
   }
 }
diff --git a/lib/view_model/ionia/ionia_gift_cards_list_view_model.dart b/lib/view_model/ionia/ionia_gift_cards_list_view_model.dart
index 583a4d5ab..a04fce3e4 100644
--- a/lib/view_model/ionia/ionia_gift_cards_list_view_model.dart
+++ b/lib/view_model/ionia/ionia_gift_cards_list_view_model.dart
@@ -39,6 +39,9 @@ abstract class IoniaGiftCardsListViewModelBase with Store {
   @observable
   IoniaFetchCardState cardState;
 
+  @observable
+  IoniaMerchantState merchantState;
+
   @observable
   List<IoniaMerchant> ioniaMerchants;
 
@@ -86,10 +89,13 @@ abstract class IoniaGiftCardsListViewModelBase with Store {
   }
 
   void _getMerchants() {
+    merchantState = IoniaLoadingMerchantState();
     ioniaService.getMerchantsByFilter(categories: selectedFilters).then((value) {
       value.sort((a, b) => a.legalName.toLowerCase().compareTo(b.legalName.toLowerCase()));
       ioniaMerchants = ioniaMerchantList = value;
+      merchantState = IoniaLoadedMerchantState();
     });
+    
   }
 
   @action