There is a lot of talk these days about switching to virtual, digital and mobile payments. We hear every day about how soon we’ll be paying for holiday shopping sprees with our phones instead of our wallets and plastic gift cards. However, you probably didn’t know that the vast majority of Americans still prefer physical gift cards to electronic ones. Shocked? Don’t be fooled by all the hype surrounding mobile payments. Your organization will still benefit from offering traditional gift cards to buyers.
Swift Prepaid Solutions serves markets that undergo regular disruption – and any time a client changes, so must its cards. To save on operations and get cards to market faster, the corporate incentive program manager works with Arroweye for on-demand card marketing and delivery. “The industry has evolved and cards have become more customized; it became a requirement to find a partner who could do a lot of creative things using technology,” said Brian Levin, chief financial officer at Swift.
Fifty-four percent of those 2014 breaches related to identity theft; 17 percent to financial access; and 11 percent to account access. And in that year, 32 data records were lost or stolen every second—averaging out to almost 2.8 million a day. In a world of widespread breaches, card issuers must look at reissuance as an opportunity.