Gift Card Market Size, Share, Forecast, & Industry Analysis 2029
A gift card is an artificial prepaid debit card that is loaded with a specific amount. It is used for various purposes, such as gifting someone and purchasing things. Most consumers, including millennials and the older generation, have a rising demand for gift cards due to their ease of use and the increasing adoption of smartphone payment technologies. The growing social trends of online gift-giving and rising demand from millennials are expected to drive market growth.
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Hackers can access the gift card by directly going to the website where the consumer is accessing their gift cards. This can be done by using a botnet attack which provides the hackers millions of combinations of gift card account numbers and stolen PINs or passwords by which the hacker can log in to the online gift card and load the money to their account. This is expected to restrain market growth.
Key players operating in the market are Walmart Inc., Under Armour, Inc., Givex Corporation, American Express, Target Brands, Inc., Best Buy, Starbucks Coffee Company, PayPal Holdings, Inc., Apple Inc., Sephora USA, Inc., Gyft, Inc., Walgreen Co., TransGate Solutions,
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