Gift cards have been one of the most popular holiday purchases since their creation and e-gift cards are a go-to last minute option for many shoppers, despite being highly susceptible to fraud. According to a new study from PerimeterX, up to 60 percent of all e-gift card transactions could be fraudulent. Even armed with this information, less than half of shoppers said they would stop buying them.
Most consumers seem comfortable and understand they are protected against fraud if they use a credit or debit card to pay for the e-gift card.
“With credit card providers, financial institutions and other online service providers limiting consumers’ liability by assuming responsibility for fraudulent purchases and transactions, it’s really not surprising that consumers are taking identity theft in stride,” said Brian Uffelman, vice president and security evangelist at PerimeterX. “This protection is a welcome and valuable benefit for consumers, and our survey results should be a clear reminder to those companies and brands with consumer-facing websites that their customers are relying on them to protect their identities and accounts.”