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Gift Cards: The Fastest Gift this Season May Lead to Even Faster Fraud

As the holidays quickly approach, consumers are looking for fast and easy gifts with many turning to the convenience of gift cards. Also, for those last minute shopper who missed the ‘free shipping’ window, gift cards can be the most appealing option if they are looking to deliver a present before Christmas. According to the National Retail Federation, 54% of consumers will purchase gift cards this holiday season, estimating total consumer spend on this product category alone to reach $27.5 billion this year.

With gift cards becoming a staple for holiday gift-giving, retailers have expanded their offerings to digital gift cards to meet the convenience-seeking demand of today’s modern consumer. However, with convenience comes the added vulnerability of taking what was once a physical/tangible card into the world of digital… CPO Magazine

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