Unfortunately, these cards come with one big downside: fraud. Merchants, especially those in e-commerce, may benefit from the growth in prepaid cards. Unlike these older methods of payment, prepaid cards can be used to make e-commerce purchases without first transferring the funds to a bank account. Prepaid cards are often used in place of cash or checks, providing funds in a more convenient form. There's been steady and significant growth in the use of prepaid debit cards over the last decade, and industry forecasts expect that growth to continue. What Are the Penalties for Gift Card Fraud?.How Can Merchants Prevent Prepaid Card Fraud. Are Prepaid Cards Subject to Disputes and Chargebacks?.What Are the Most Common Scams Conducted Using Prepaid Cards?. TIPS: Gift Card Fraud Prevention EMV SRC Explained TC40 & SAFE Tips for Identifying Credit Card Fraud Update: EMV Chips and Liability Shift TIPS: Distributed Ledger Technology & Fraud Prevention FAQ: What is the Address Verification Service (AVS)? Table of Contents
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