Fraud in the Prepaid Card Market: The Problem with Prezzy Cards

Prezzy Cards

(Source – Freepik)

In the last couple of years, the number of people in New Zealand opting for prepaid payment options like Prezzy Cards has massively increased. If we take a look at the data provided by Statista, we can see that almost 18% of Kiwis prefer prepaid cards in their daily lives. Some people choose this payment method to shop at stores, some find it convenient to use Prezzy Cards at online casinos, and others just like the simplicity of transferring money.

However, with the growing interest in Prezzy Cards, the number of frauds, hacks, and malicious activities targeting its users has also increased. When taking a look at the internet findings on this topic, you can see numerous cases of fraudulent schemes related to Prezzy Cards. But what’s the exact problem with this payment option, and how can prepaid card users avoid becoming the target of scammers? In this article, we will unpack all these questions. So, let’s get started.

An Overview of Prezzy Cards – What It Is and How It Works

Prezzy Cards are a type of prepaid payment option that came into the scene for New Zealand customers back in 2006. They are similar to other regular cards and allow you to use them for purchases both online and offline where VISA is accepted. 

As for how Prezzy Cards work, it’s quite simple. You just need to give your card number, the 3-digit CVV2 code, and the expiry date when shopping online. In physical stores, it’s enough to use the “credit” button and then sign the receipt. Here, no PIN will be required.

Prezzy Cards can also be a great gift option for employees, clients, and customers. Precisely, the company offers special customized gift card options to suit the tastes and preferences of every business and brand. 

To get a personalized Prezzy Card, you need to get in contact with the company and provide your desired message and logo. In addition, you can pick the amount of money on the card – anything between $25 and $1,000. Once you get the card, you can use it during its activity period (typically 24 months). 

A Brief Look at Prezzy Card Fraud

In recent years, supermarket chains and customers in New Zealand have been under the potential threat of being affected by the new scam involving Prezzy Cards. According to Stuff, numerous people have bought a Prezzy Card in the Waikato’s Matamata-Piako District only to discover that the pack contained a bogus card. Notably, companies such as Countdown Matamata and New World Matamata confirmed they were dealing with such schemes at their branches.

Many customers who faced such a situation shared their stories on social media platforms. For example, one Matamata shopper warned others to be careful when buying Prezzy Cards at Countdown or New World stores, as they sometimes get swapped with some random card. The card he got was a Farmers Club Card. 

Once you purchase the fake Prezzy Card, the shopper will activate the original one. As a result, the scammer will get the amount on the card, while the buyer will be left with nothing. So, it’s necessary to carefully check the card at the moment of purchase to be sure it is the real one and avoid the nerve-racking refund process. 

Police started to investigate the details of this scam, and both Foodstuffs and Countdown (two leading supermarket chains in NZ) said they had instructed their teams on how to deal with it. In particular, after every similar incident, the cards were immediately blocked to avoid further losses. In addition, according to a Countdown spokesperson, apart from blocking, they also loaded a new card for involved customers.

To avoid scams, you are also recommended to regularly check your transaction history to make sure there are no unauthorized transfers or errors. If you notice any issues, you can get in touch with the Prezzy Cards team through the phone numbers (+64) 09 888 6792 or 0800 450 509. They will review your request and suggest appropriate solutions.

If your card details have been exposed to third parties or you have become a victim of Prezzy Card fraud, you should immediately reach the support team for card cancellation and refund. However, keep in mind that you can’t bring back your funds if your card is not registered. It’s simply because the platform doesn’t have any way to identify you as an owner. Australians have similar difficulties with their PayIDs. Once your identity and the fact of unauthorized transactions or fraud are proven, you will be able to return your money. But you should be patient, as the process can take months.

On the final note, let’s just remember that it’s several times easier to prevent something than to later deal with its consequences. So, when using or buying Prezzy Cards, make sure to follow all safety tips – just check the card on the spot, keep your card details protected, and avoid unauthorized transactions.

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