I googled it and didn’t get much - just a couple of links to Facebook pages. It seems to be a type of business that pays cash for around 70% of the value of gift cards. Then the proprietors must, by some means, convert the cards to cash or goods at over 70% of their value. I can see issuers’ being willing to pay an in-between amount.
I expect this sort of business has to keep a lot of cash on hand, making them obvious robbery targets.
I have no idea what this business does, but I recently learned that much of credit card fraud involves the purchase of gift cards. Then the thief sells the gift cards rather than cashing them in himself.
So at that point he just disappears, Scott free.
My bank explained this to me when I asked them how a guy could hit my card in six equal amounts of $800 each.
So this could be a case of two tough guys meeting head on.