Gift cards are safe, secure and convenient payment and gift options—evident by their widespread popularity and use. According to the National Retail Federation, gift cards have been the most popular gifts in America for 13 years in a row, with 59 percent of consumers hoping to receive them this year—and millions planning to give them.
Unfortunately, alongside gift cards’ growth and appeal with consumers, they have also become a weapon of fraudsters. Criminals abuse gift cards just like other payments vehicles in elaborate scams that are evolving all the time.
In an effort to help consumers have the best possible experience with gift cards this holiday season and beyond, the RGCA recently published an educational video with tips on how to avoid gift card fraud.
Retailers and other businesses can also access fraud mitigation tactics and tips to stay ahead of scammers this holiday season here.