Digital products were quickly embraced by consumers. A purchasing process, simplified as much as possible, along with instant gratification and pleasure… What is there not to like? The only issue really is that these types of products also attract malicious people: fraudsters.
And digital gift cards are, by far, the most targeted product. The immediacy, simplified purchasing process, and above all, because of its ability to be used or sold quickly are so many reasons why fraudsters are likely to get away with it without getting caught. A quick way to fill their pockets if brands do not pay close attention to the protection of their solution.
From stolen credit cards to stolen login details, many techniques exist. There are also patterns that are easily recognized and prevented thanks to a fraud protection program.
We have listed for you the various techniques and behaviors to look out for in order to protect your digital gift cards from fraud.
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Fraud techniques used for digital gift cards
Be careful, however, not to focus your entire fraud protection strategy on the examples of this list. It is important to keep in mind that cybercriminals are constantly updating their techniques. That is why it is crucial to have an intelligent program that can evolve accordingly.
Suggestions for further reading
What are the different types of gift card customers?
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