Gift Cards Are Prime Targets For Fraudsters. Protect Your Business From Shouldering The Blame.

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Gift cards are an incredibly popular option for gift-givers and recipients, with global sales projected to hit $2 trillion by 2024. Unfortunately for merchants and their customers, gift card fraud is on an upward trend, too, creating $240 million in losses as the most-reported kind of payment fraud in the U.S. since 2018. This trend is bad for consumers and for merchants. Both can suffer financial losses from gift card fraud, and fraud can erode the relationship between customer and brand. Here’s what retailers and brands need to know to protect their revenue and their customers’ trust. Q3 202…

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