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spending up to 30 percent more online.

Alongside this ecommerce boom, the use of
gift cards is expected to increase from roughly
$163 billion in 2019 to over $221 billion by
2024, according to reporting from Research
and Markets https://bit.ly/31Z3rNO). Gift cards
Getting to grips with can be purchased and delivered without ever
stepping foot in a store, and provide extra layers
of convenience for both the gift receiver and the
gift card fraud consumer, 50 percent of whom enjoy letting the
recipient choose their own gift, according to a
consumer survey conducted by CardCash, and
By Monica Eaton-Cardone 25 percent of whom enjoy the ease of purchase
Chargebacks911 (https://bit.ly/3uAbTzr).
The changing reputation of gift cards
ith brick-and-mortar retail still very much feeling
the effects of the COVID-19 pandemic, retailers are Despite the earning potential associated with
continuing to invest in digital shopping methods and gift cards, retailers should be wary, as some
W ways to meet consumer demand without having to of the features that make them so appealing
rely on footfall. Consumers, it seems, have thoroughly embraced to consumers are also those that make them
this shift into the online space – with a recent BIG Commerce easy tools to commit fraud with. This is only
survey (https://bit.ly/3s4PpEW) finding that people on average are exacerbated as consumers continue to consider
them the gift of choice as they avoid meeting
recipients in person to celebrate special
occasions.

However, the COVID-19 pandemic has not
just forced merchants to adapt in response
We’re More Than an Authorization to lockdown restrictions, but it also has
unfortunately forced the closure of certain
We’re The Best Solution For You and Your Merchants brands that couldn't survive the economic
hit. Debenhams, for example, announced in
December 2020 the closure of 124 stores across
the UK.

Inevitably, this has caused some consumers to
approach purchasing gift cards with greater
trepidation than before, as they assess the risk
QUICKBOOKS® DEVELOPERS
of store closures making gift cards null and
RETAIL/POS
void. However, this doesn't mean businesses
should be letting their guards down when it
comes to the risks associated with them.
Gift cards can be a risky business
MOBILE eCOMMERCE
Just because consumers might be growing
increasingly wary of purchasing gift cards
Plus ePN offers customized, versatile services doesn't mean fraudsters are. Gift cards are easy
to help you support your business to acquire, easy to cash in, easy to spoof and

Contactless/NFC • EMV • Level III • Inventory • CDM • Bill Pay • Recurring Payments virtually untraceable. They seldom include
personal data that could link them to the
Through our ePN Partnership, ISOs/MSPs will experience: legitimate purchaser or recipient. All that is
• No fee, lead distribution needed to commit fraud is the account number
• FREE online documentation, development test account, and sample code for and the funds are available. Alternatively, gift
experienced developers cards can be bought online using stolen credit
• FREE brandable marketing materials through our Reseller Support Center
card information and resold for cash.
(800) 296-4810 • eProcessingNetwork.com
Ultimately, gift card fraud can impact
© eProcessing Network, LLC. All Rights Reserved. All trademarks are the property of their respective holders.
merchants in a variety of ways. For example,
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