Giftify says CardCash increases new customer approvals by over 10%

Giftify (GIFT) announced that CardCash.com has achieved an over 10% increase in the new customer approval rate following significant enhancements to its proprietary fraud detection system. The gift card secondary marketplace faces unique fraud risks that require specialized detection capabilities. CardCash’s previous fraud prevention systems, while effective at minimizing risk, created barriers for legitimate first-time customers seeking to access the platform’s savings opportunities. The Company’s growth and risk management teams prioritized solving this challenge through a comprehensive overhaul of fraud detection protocols. The enhanced system leverages the Company’s proprietary fraud detection technology, specifically engineered for gift card transaction patterns, combined with refined internal data analysis and granular risk assessment variables. The technology improvements enable CardCash to differentiate between legitimate customers and potential fraud attempts with greater precision, resulting in improved customer acquisition metrics without compromising platform security.