PLI Leads the Industry in Gift Card Fraud Prevention
Gift card fraud is estimated to be just under 1% of card sales, which may not seem significant. However, with gift cards sales estimated at $160 billion in 2017, that’s nearly $1.6 billion in fraud annually.
PLI offers a number of solutions for protection.
PIN Numbers and Security Tape
Entering a PIN number to activate a gift card can be a deterrent to card number theft. The PIN number is revealed after scratching off security tape on the back of the card. As a further theft deterrent, PLI offers “tamper-evident” security tape that alerts buyers and cashiers that the security tape has been altered to reveal the PIN number on the back of the gift card.
Card Carrier Solutions
Tamper-evident gift card carriers are another theft deterrent. By enclosing gift cards in carriers that must be opened to reveal the card number, stolen/returned cards are more easily detected by both legitimate card purchasers and cashiers. PLI works closely with merchants to develop cost-effective, tamper resistant card carriers.
Data breaches and theft of bulk card data can result in potentially large losses and are obviously a big concern to merchants. PLI takes measures to ensure all card data is secure throughout the entire card manufacturing process.
All card data PLI manages is encrypted (translated to cipher text and rendered unreadable) throughout the entire card production process. Data resides on a separate, dedicated, highly secure server at PLI.
Security cameras are located throughout all PLI’s production facilities. Employees are not permitted to bring cell phones or other recording devices to the production floor.
Did you know?
PLI has made significant investments in taking our data security to an extent unprecedented in the closed loop space. External organizations have audited and verified that we have the highest level of information security controls in place – well above industry standards. For information on PLI’s gift card security standards and theft deterrent solutions, please contact your PLI representative at 1-800-752-1017 or contact us HERE. You can also download the PDF version of this article HERE.