Gift cards are the most requested gift item and have been for the last eight years. Merchants love gift cards because they take up very little space and the recipient often ends up spending more than the value of the gift card. In fact, 72 percent of customers making a purchase with a gift card end up spending more than the gift card value.
As gift cards have increased in popularity, so has the incidence of fraud. Merchants can protect themselves by incorporating scratch-off pins and ensuring that their fraud solution prevents against the risk of both fraudulent purchases and redemption.