The gulf between industry policy and the practical realities of the market creates vulnerabilities and opens the door for new threats like friendly fraud and cyber shoplifting. Visa and Mastercard are stepping up to take this challenge seriously. But is it enough? What’s really needed is a consistent process across card brands.
Fanbank, a Santa Monica, CA-based startup, aims to give small business owners a greater opportunity to reach online buyers by creating digital credits that can be redeemed in brick-and-mortar stores through Facebook ad campaigns. The ads show up in shoppers’ newsfeeds, and soon will be publishable on a merchant’s Facebook page.
Many retailers continue to use legacy payment systems and outdated technology because they are hesitant to take on the unknowns of a new payment platform. However, outdated payment systems actually negatively impact your business’s bottom line. Here is why it is important to leave legacy systems behind.
Fraud as a percentage cost of revenues has steadily climbed over the past several years, from an average of 0.51% in 2013 to 1.80% in 2018, and that number is expected to keep rising as CNP fraud continues to grow. Here are some key factors when considering whether to have all of your fraud screening done in house or outsourced.
E-wallets have slowly gained popularity in the United States and now account for 20% of U.S. payments. For merchants to offer a genuine omnichannel experience, they must engage with customers in a consistent, seamless manner across digital, physical and social media. Find out how offering local or alternate payment is one key to getting there.