The study notes the increasing consumer love for gift cards requires retailers to provide consumers with improved card management options, such as storing the card on mobile devices. Of those polled by CashStar, 40 % of online consumers admit to losing plastic gift cards and 56 % would like the option to store card value on smartphones or in a mobile wallet to avoid potential loss.
Those who receive gift cards – both plastic and digital – now have more options for storing their card value on their smartphones in mobile wallets, and in 2016 more retailers are expected to adopt this functionality.
People living in Western states expressed the most interest in mobile storage card options and younger shoppers are more interested in storing gift cards on mobile phones: 74 % of 18–24-year-olds versus 34 % of those 66 or older.
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