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My guess is that stores that sell gift cards would not favor the passage of regulations that could endanger the profit they are currently making on gift cards.
by gnicholas 3y ago
My guess is that stores that sell gift cards would not favor the passage of regulations that could endanger the profit they are currently making on gift cards. For them, this is basically free money, and may contribute meaningfully to their profitability. Grocery stores have very low margins, and have to deal with spoilage and expend labor restocking perishable goods every day. Gift cards are a breeze, by comparison. They don't go bad, or take up much space.
- admax88qqq 3y agoIs making gift cards more difficult to buy really going to put a dent in people getting scammed?
- nerdponx 3y agoI wonder what % of gift card sales are actually scam victims.
- gnicholas 3y agoProbably a bigger percent of total GC sales by volume than by number of transactions. I assume legit purchases are $25-50, and scam-induced purchases are larger, perhaps much larger.
- SXX 3y agoThere also credit card churning. Though people who do that are certainly know what are they doing and not gonna be diswayed from buying gift cards by anti-scam warnings.