Newegg is adding enhancements to its livestream shopping program in an effort to attract more creators who can earn commissions by selling tech products on eight different social media channels plus its own website and app, using the company’s upgraded production studios in California for free.
As consumers have begun holiday shopping earlier than ever, merchants are expecting historical peak trends, and fraudsters will try to take advantage of this. To prepare for the uptick in BOPIS fraud this holiday season, consider enacting both short-term and long-term fraud mitigation strategies to protect yourself and your customers.
One key reason friendly fraud is such a problem is that merchants and banks lack the capacity to distinguish between legitimate and illegitimate dispute claims. AI-based tools sending transaction data would allow for more accurate analysis of industry trends and consumer preferences, freeing up resources and reducing overhead.
A Jan. 30 data breach linked to cosmetics giant Estée Lauder exposed more than 440 million records, but none apparently contained customers’ payment information or privileged information about employees. This follows recent data breach events at Visa and children’s clothing retailer Hanna Andersson.
Visa plans significant changes to rates merchants pay each time a consumer makes a purchase with its cards, Bloomberg reported, both online and in store, citing a document Visa sent to banks. According to Bloomberg, brands can expect to pay more for ecommerce transactions, while fees in grocery stores will decline.
Amazon’s latest expansion into the consumer biosphere will enable brick-and-mortar shoppers to pay for purchases with a mere wave – or scan – of their hand. The Wall Street Journal said Amazon is creating a system of hand-scanning terminals for retailers, with a focus on venues like coffee shops with lots of return customers.
Visa is warning ecommerce merchants about a new JavaScript skimmer targeting customer data entered at the point-of-sale (POS) in payment forms on sellers’ websites. Pipka is able to remove itself from the HTML code after it is successfully executed, thereby avoiding detection. Visa is giving merchants a list of mitigation measures.
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.
Ecommerce fraud attacks are still on the rise despite increasingly common antifraud technologies like geolocation, address verification and even biometric technology. Find out what Visa Claims Resolution is and what it means for your business.
In the wake of high profile data breaches, Visa and MasterCard are making another push for the payments industry to adopt chip and PIN technology in U.S. credit and debit cards.