Starbucks and Target have introduced mobile gift cards, and more sellers are expected to begin offering the option. Users set up a gift card account on their phone, and a barcode displays to use the gift amount. A security code is needed to use the mobile gift card.
Year after year, gift cards are very popular — gift cards have been the most-requested item for the last 4 years, and this year 57% of people are planning to purchase gift cards, according to the National Retail Federation.
Just like any purchase online, BBB advises mobile gift card purchasers to know who you’re dealing with and check out the merchant at http://www.bbb.org/. Find out the terms and conditions for the mobile gift card, and make sure the mobile gift card account is protected. Mobile gift card recipients — and givers too — should guard their mobile phones carefully.
See the story on mobile gift cards at http://www.cbsnews.com/video/watch/?id=7390657n.