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IBM Study: Consumers Want Inventory Visibility

IBM studyUnveiled at the 2015 NRF BIG Show, the IBM Institute For Business Value study found that consumers are looking for better inventory visibility and more personalized offers. The research featured data from more than 110,000 consumers in 19 countries, collected over four years.

As shoppers spend more time researching product availability before they head out to a store, they have become less tolerant of out-of-stock (OOS) scenarios. As many as 66% said that it is important to confirm an item is available before entering the store. And when presented with an OOS in-store, 46% of shoppers expect store associates armed with mobile devices to rectify the problem.

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Chick-fil-A Investigates Potential Breach

chickfilaChick-fil-A has announced that it is working with law enforcement and security experts to investigate suspicious activity involving payment cards used at several of its restaurants.

The fast food chain received initial reports from payment industry contacts on December 19 and is working to confirm whether a breach did, in fact, take place. However, security expert Brian Krebs indicated in an article that he first heard rumblings of a potential breach in November.

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Hancock Fabrics Streamlines IT Operations With EarthLink

IT extends across numerous areas of the business, making it difficult for retailers to streamline their efforts under one department. However, retailers can simplify IT management and reduce costs if they partner with solution providers that have a vast menu of solutions and services.

Hancock Fabrics, which provides sewing and fabric items, has selected several business solutions from EarthLink to simplify infrastructure operations throughout the company via a secure managed network. The company will implement the solutions in all of its 262 retail locations across the U.S., and expects the deployment to reduce overall IT-related costs by 20%.

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119 Stores, 1.16 Million Payment Cards Hit In Staples Breach

staples130214-1In October 2014, Staples announced that it was collaborating with law enforcement to investigate a potential breach. The office supply retailer has since revealed that point of sale systems in 119 stores were infected with malware. Through the entirety of breach, which extended from April 2014 to September 2014, 1.16 million credit and debit cards may have been stolen.

Upon detection, Staples focused on eradicating the malware and partnered with outside data experts to further investigate the incident. Based on this detailed inspection, the retailer reported that the malware may have allowed access to transaction data at affected stores, including cardholder names, payment card numbers, expiration dates and card verification codes.

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Feedzai Brings Fraud Prevention To Shopify And Bigcommerce Platforms

SS site only Feedzai ImageFraud prevention has become a top priority for retailers of all sizes following the breaches of several high-profile organizations such as Home Depot and the U.S. Postal Service. As cybercriminals become more sophisticated, retailers must do whatever they can to protect their businesses and consumers.

Feedzai, a fraud prevention and Big Data solution provider, has released e-Commerce apps for the Shopify and Bigcommerce platforms to help retailers mitigate and prevent fraud. Designed to provide eTailers with information to determine the legitimacy of an order, the apps send notifications when specific transactions are flagged for suspected fraud. Each notification includes a list of reasons to block or allow a transaction, honing in on a variety of factors such as: IP geolocation; device ID recognition and disposable emails. After analyzing these notifications, retailers can determine whether they want to accept or decline a transaction.

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Money20/20 Roundup: Payment Players Announce New Solutions, Services And Partnerships

Money2020More than 7,500 attendees, including CEOs from 2,500 companies across 60 countries, are converging for the Money20/20 conference in Las Vegas, Nev. The show, taking place Nov. 2-5, 2014, will spotlight the latest payment trends, solutions and innovations.

One day into the show, and various solution providers are announcing new partnerships, solutions and services. Here is a roundup of some of the announcements thus far:  

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Retail, NSA Breaches Influence Security Strategies

RR Breaches ImageMore than half (52%) of businesses believe that a cyber-attacker is currently on their network, or has been in the past year, according to the Global Advanced Threat Landscape Survey from CyberArk.

Additionally, more than two thirds (68%) of organizations said the NSA breach (37%) and major retail breaches at Target and Neiman Marcus (31%) impacted their security strategies the most in the past year. While the NSA breach was an inside attack and the retail breaches were from external sources, both events occurred due to the theft and exploitation of “privileged accounts,” which are employee credentials used to gain access to systems.

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Staples Investigates Potential Data Breach

staples3Staples may be the next in a line of retailers experiencing a payment card data breach. The retailer is presently investigating the potential breach and has contacted law enforcement, according to Mark Cautela, Sr. Public Relations Manager at Staples.

“We take the protection of customer information very seriously, and are working to resolve the situation,” said Cautela in an email. “If Staples discovers an issue, it is important to note that customers are not responsible for any fraudulent activity on their credit cards that is reported on [in] a timely basis.”

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29% Of Consumers Don’t Trust Retailers To Keep Data Secure

RR ACI ImageMore than one quarter (29%) of consumers worldwide do not trust retailers and restaurants to protect their stored personal and financial information against data breach attempts, according to a report from ACI Worldwide and Aite.

The report, titled: Global Consumers: Concerned And Willing To Engage In The Battle Against Fraud, surveyed more than 6,100 consumers across 20 countries in March 2014.Confidence in financial institutions such as community banks and credit unions is higher among survey respondents, as 58% believe they protect data more effectively than any other institution. Conversely, 31% of respondents said they think governments and law enforcement agencies are doing a “very bad” or “poor” job at fighting fraud.

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Kmart Investigates Payment System Breach

Kmart is investigating a store payment data system breach, according to President and Chief Member Officer Alasdair James.

On Oct. 9, 2014, the Kmart IT team determined that the payment data systems at Kmart Stores had been infected with a new form of malware in early September 2014. The malware has been removed.

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