With e-gift card sales expected to increase drastically, businesses need to protect themselves from fraud risk
The COVID-19 pandemic has created many challenges in 2020, with retailers and restaurants scrambling to implement new processes and systems to make customers feel safe. This holiday season, e-gift card sales are expected to drastically increase, which presents yet another challenge for businesses: fraud risk. Givex, the cloud-based, end-to-end customer engagement solution, is running a promotion on its Merchant of Record service in December to help businesses alleviate fraud risk during the holiday shopping season.
“Businesses are scrambling to capture their share of holiday shopping dollars and make up for lost revenue due to the pandemic. One avenue for driving revenue is through e-gift card sales, which creates a heightened need for tighter fraud monitoring,” said Mo Chaar, Chief Commercial Officer for Givex. “Many retailers don’t have the internal IT support to continuously fight fraudsters from purchasing gift cards with stolen credit cards. With Merchant of Record, Givex takes on the fraud indemnification and chargeback risk, giving our clients peace of mind during the busy holiday shopping season.”
The Givex Customer WebSuite delivers gift card, loyalty and online ordering capability in a single mobile app and provides a unified experience across desktop and mobile. It integrates with Givex POS, streamlining the online ordering process and creating a simple, contactless payment experience. Merchant of Record can be added on to protect businesses from fraud, increasing operational efficiency and reducing stress for business owners, and doesn’t require a separate fraud monitoring company.
“Merchant of Record offers a nearly 98% approval rating, which is what most businesses are looking for,” said Chaar. “We protect businesses from fraud, but don’t prevent legitimate customers from making purchases. Givex does the heavy lifting so our clients can focus their efforts on driving holiday shopping revenue.”
For businesses looking for predictable expenses and more security this holiday season, Givex is offering free setup for its Online Ordering module, packaged with Merchant of Record. For more information about Merchant of Record or other Givex services, please visit www.givex.com.
Givex is a global cloud-based operations management solution designed to streamline business efficiencies and generate valuable and actionable customer data. Since its founding in 1999, Givex has provided operational intelligence across a wide variety of industries, from restaurant and retail to hospitality and the service sector, offering a fully integrated suite of customizable products, including gift cards, loyalty, point-of-sale (POS) and Analytics. Givex’s Uptix ticketing solution transforms traditional sports or event tickets into a mobile interactive platform, providing event managers with new insights into their customer base and the ability to elevate the fan experience. With more than 16 billion transactions conducted across more than 55 countries, Givex is at the forefront of how brands will compete for customers now and in the future. For more information about Givex please visit http://www.givex.com.
