Abstract: The present invention comprises a system and associated methods for protecting the unused balance of partially redeemed gift certificates from unauthorized, fraudulent use. The present invention employs a two-part gift certificate identification comprising a static Unique ID for gift certificate tracking, managing, reporting and reissuing and a separate, random Authentication Code that changes each time the gift certificate is reissued. The present invention fully enables a gift recipient's partial use of the gift certificate while retaining the unused balance for one or more future purchases. The present invention also enables the use of partially-redeemable gift certificates in “open loop” pools of unaffiliated merchants where typical gift certificates are generally limited to “closed loop,” single-merchant and single-use applications without retention of the unused balance.