Wrong on every level
Gift cards are the stock in trade of fraudsters with spikes of up to 25 percent on holiday season.
Gift card distributors work on high volume but very low margins typically earning only 1 percent on each sale.
The fraudsters operating in the Gift Card market will be like bees to honey if able to acquire them through Zip and never have to repay
I don't think these type of people will be to concerned with their credit rating.
I would be surprised if Zip are earning any more than 50 basis points on these low value transactions and they are covering the finance cost, processing costs and bad debts on an extremely risky product.
You can argue the loss leader element in order to recruit customers but people splitting $10 $ 20 $50 gift card purchases are not the most desirable customer
Wrong on every level Gift cards are the stock in trade of...
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