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For retailers and card providers, there are several important issues to consider regarding “chip & PIN” EMV technology ahead of the October 2015 deadline. By taking steps now to improve online security, retailers and card providers can ensure that online customer data is protected and avoid dangerous fraudsters and hackers that can potentially ruin brand loyalty and sales down the road.
Although the merchant community is focused on updating hardware to prepare for the EMV migration, they also need to prepare for an influx of fraudsters online. Merchants should consider the four following factors in order to prepare for this rise in online fraud.
Merchants need to understand the credit card transaction process as the gatekeepers of their customers’ private information.
There are several facts retailers will want to consider when it comes to ecommerce. Just some of those facts include: payment, customer experience and functionality, according to an infographic by ecomextension.
Beginning in early 2015, the entire REDcard portfolio will be enabled with MasterCard’s chip-and-PIN solution. Existing co-branded cards will be reissued as MasterCard co-branded chip-and-PIN cards.
NRF pursues establishment of retail information sharing and analysis center.
To stay competitive, you must learn how to use these customer- and tech-driven megatrends to your advantage.
Mountains Plus has partnered with Coinbase and Upshot Commerce to offer Bitcoin as a digital payment method for its specialty outdoor gear customers.
Security breaches at large retailers triggered a surge in friendly fraud among consumers, according to dispute mitigation company Chargebacks911, which warns online merchants to prepare themselves with prevention strategies.
Here a burger, there a burger, let’s put a hold on Tim’s card…