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Target, Neiman Marcus and Michaels are not the first merchants to have customer data compromised by a cyber-attack, nor will they be the last.
An independent study of 1k consumers found that 17 percent of consumers report having had their credit cards declined during card not present (CNP) transactions and as many as one-third of these declines were unnecessary. The result is consumer aggravation, increased operational costs for banks and credit card companies and as much as $40 billion in lost revenue for online retailers. 41st Parameter, a part of Experian, released the data from its TrustInsight division.
Overstock.com announced that it has sold over $1 million in product to Bitcoin users since the online shopping site started accepting the cryptocurrency on Jan 9. According to Overstock.com, of the over 4,300 Bitcoin customers that made purchases with the site since January, almost 60% are new customers.
Target has announced that Beth Jacob, chief information officer, is resigning from her position as part of an “overhaul” of the retailer’s information security and compliance structure. Jacob’s resignation is effective March 5.
What did the major data breach at Target mean for the merchant’s bottom line? It meant fewer consumers shopping at the mass merchant, as well as a $17 million net expense related to the data breach investigation. Target announced Wednesday that sales for its U.S. segment in the fourth-quarter decreased 6.6%.
Is Bitcoin about to change the way we pay for goods and services on the Internet? Or is Bitcoin just another alternative payment method that comes in like a lion and goes out like a lamb?
As buzz about Bitcoin continues to build, the question is often asked – will consumers embrace this alternative currency? A new nationwide survey conducted for TheStreet by GfK1 shows that consumers do not understand Bitcoin and have little interest in owning it.
Retail marketers have been busy examining the results of their holiday initiatives to reflect on what worked, what didn’t and what can be improved. From a technology perspective, here are three of the most poignant lessons that can provide valuable guidance for retail marketers in the coming year.
As retailers increasingly look to mobile as a way to generate revenue, fraud threats are impacting merchants to the tune of $283 for every $100 of actual fraud losses through mobile devices.
What can businesses and retailers learn from Target security breach? Here are some of key takeaway tips from WatchGuard Technologies’ Director of Security Strategy and Research Corey Nachreiner.
by George Chang
Posted 2 days ago
Posted 2 days ago