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In his article in denverpost.com (link below), Steven Greenhouse focuses on employee fraud involving gift cards. Green’s article, “Gift-card cons on the rise as employees find them easy to swipe” highlights data that indicates employee theft of gift cards is growing sharply, contributing to an estimated annual $36 billion in theft in the industry.
Opticard offers merchants several effective tools to make it more difficult for dishonest employees to exploit gift cards. Its Stored Value Gift Card and Loyalty system provides methods to deter fraudulent use and mishandling which include “clerk id” validation, terminal id validation, minimum-maximum limit settings, restricted use, encryption methods, and the use of an Opticard Validation Value and a Card Verification Value. These provide merchants with the option to define restrictive privileges to prevent illegal activity when authorizations are performed against the Opticard Stored Value Gift and Loyalty system.
To maximize your protection against employee gift card fraud, contact your Opticard account representative or call 1 (877) 331-2900 to discuss the opportunities that the Opticard Stored Value Gift Card and Loyalty System offers.
http://www.denverpost.com/business/ci_14109707
