Establishing Strong Policies and Practices: Never skip on security
Gift cards incentivize customers to engage in business with any company. Gift cards can be purchased in bulk, cannot be tracked, can be easily sold online, and can be exchanged just like cash. A business implementing a gift card purchase system often focuses on a quick and simple customer experience that will boost sales; however, companies often postpone implementing secure policies and practices in a last-minute gift card campaign designed to make a quick buck (Malteseva, 2023). A low dedication to security when creating gift card promotions makes gift cards a prime target for hackers. On November 4, 2022, to February 27, 2023, Nordik Spa in Ontario, Canada, suffered a significant data breach in their gift card payment system that distributed customer credit card numbers and personal information to a third party that resulted in numerous unauthorized charges to customer credit cards (Shebahkeget, 2023). Gift cards provide a lucrative attack point for hackers. When offering gift...