The secret life of gift cards: Here’s what ... - Associated Press News
Dec 26, 2023 · Americans are expected to spend nearly $30 billion on gift cards this holiday season, according to the National Retail Federation. Restaurant gift cards are the most popular, making up one-third of those sales. Most of those gift cards will be redeemed.
Americans have a collective $21 billion in unspent gift cards
Feb 23, 2023 · Almost two-thirds of American consumers have at least one unspent gift card tucked away in a drawer, pocket, wallet or purse.
Gift card scams generate billions for fraudsters and industry as ...
Aug 22, 2024 · In gift card fraud, everybody but the victim makes money: fraudsters, gift card companies and retailers. The criminals exploit a rapidly evolving payments industry that’s shrouded in secrecy,...
Here's what happens to the billions in gift cards that go ... - CBS News
Dec 25, 2023 · Americans are expected to spend nearly $30 billion on gift cards this holiday season, according to the National Retail Federation. Restaurant gift cards are the most popular, making up...
Gift card scam: What holiday shoppers should know about card …
Dec 11, 2023 · Authorities nationwide are issuing a warning about a gift card scam called card draining as many holiday shoppers look to buy gift cards as Christmas gifts.
Visa Is Sued Over 'Vanilla' Gift Card Scam - U.S. News
Jan 30, 2024 · (Reuters) - Visa was sued on Tuesday by consumers who said the card payments network failed to make prepaid "Vanilla" gift cards less likely to being drained by thieves.
Maker of popular gift cards sued over alleged ‘card draining ... - CNN
Dec 20, 2023 · New York CNN — A Georgia-based company that makes many popular gift cards faces a lawsuit in California alleging it failed to take precautions to prevent scammers from draining gift cards...
Americans spend $300 billion a year on gift cards. Why
2 days ago · The Retail Gift Card Association, an industry trade group, counters that idea, noting in a statement that "brands largely prefer when consumers go to their locations or apps and fully-redeem their ...
How Walmart is fighting back against gift card scams
Walmart has been working with the government to crack down on victim-assisted gift card fraud incidents. Thousands of consumers have already been made whole.
Paper or plastic? Gift cards don't need to be trash - ABC News
Nov 25, 2022 · Gift cards don't need to be trash. More than 3.4 billion gift cards were sold in the United States in 2021. By Tracy J. Wholf. November 25, 2022, 7:45 AM. 1:30. Tends of thousands of unused plastic gift cards are being discarded in Turkey, creating an environmental hazard. Courtesy Sedat Gündo.