[brianpgordon]

But they did receive the gift card. Why should the payment processor assume the risk that, possibly years later, someone doesn't honor the gift card?

[ThrustVectoring]

They're not assuming the risk, the merchant bank is. And the merchant bank should be mitigating that via holding back a portion of credit card receipts from companies for the specific purpose of honoring chargeback demands.

[tdhoot]

I don't think you can chargeback years later, it's usually 45-120 days.