If nothing else, bad actors perpetrating ecommerce transaction fraud are clever opportunists, and a crisis like the ongoing coronavirus outbreak is proving a perfect opportunity for them to prey upon unsuspecting sellers and consumers, experts agree. The rise of contactless deliveries and working from home are among the entry points.
Competing with Amazon, addressing privacy issues linked to collection of data by third-party technologies and improving site speed to boost sales are top priorities identified in a new study from ecommerce platform provider Yottaa. The report suggests Prime-style free same-day shipping will become widespread among brands in 2020.
The juxtaposition of “fast and frictionless yet safe” checkout puts a large burden on retailers who may be tempted to add extra steps to increase security. While there are many ways to meet these growing customer expectations, the best approach is to prioritize the user experience. Here are 4 trends to watch for in 2020 and beyond.
Add another cart abandonment headache. A new Baymard Institute study shows 18% of shoppers have abandoned a checkout in the last three months because they didn’t trust a site with their credit card information. Visual upgrades underscoring a perception of security and trustmarks were two suggested remedies.
The U.S. government is cracking down on the sale of counterfeit ecommerce items and pirated goods, warning of stricter rules and penalties for participants in a rogue economy that was valued at $509 billion in 2016. A DHS report announcing the crackdown came in response to an April 2019 memorandum from President Trump.
Hanna Andersson, the Portland, OR-based children’s clothing brand with Swedish roots, was hacked in a magecart attack last fall that exposed customers’ credit card information, including CVV codes, but is just now coming to light. The hack revealed credit card information from transactions between Sept. 16 and Nov. 11, 2019.
It’s near impossible to keep up with the pace of change in ecommerce payment. That’s a problem, because fast-paced innovation inevitably leads to vulnerabilities. Without the right approach, revolutionary profit opportunities could fall victim to advanced ecommerce payment fraud threats. A multilayered, strategy is needed.
The California Consumer Privacy Act (CCPA), effective Jan. 1, 2020, has wide-ranging impacts far beyond the state’s borders. From new preventative measures retailers must make, to increased safeguards for consumer data, these new policies will fundamentally change the retail sector. Here’s what you need to know about its impact.
PayPal has a reputation for safety and security, which makes it the first choice for many ecommerce businesses that need to have a way to accept online payments. Unfortunately, fraud and criminal activities still occur there as elsewhere. Here are 5 PayPal scams any ecommerce seller using the widespread service should watch out for.
Adhering to the set of ground rules set forth in the Payment Card Industry Data Security Standard (PCI/DSS) defines how merchants who accept credit cards manage card data and their own networks to ensure it remains safe from theft and abuse. Here’s what you need to know in order to stay in compliance.