Menu
RSS

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.

Read more...

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:  

Read more...

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.

Read more...

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.”

Read more...

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.

Read more...

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.

Read more...

Small To Mid-Size Businesses: The New Target For Hackers

VP Heartland head shotBefore the Target breach, which shook the data security industry to the core, many big companies didn’t see the need to make security a top priority. Many executives thought “good enough” was enough to protect them and their customers.

Target is paying nearly $200 million for its breach, and the big box retailer’s Q2 earnings of $234 million are dismal compared to earnings of $611 million in the same period last year. The cost of being “good enough” is no longer good enough.

Read more...

Capitalizing On Retail Big Data

Dolphin head shotIncreasingly, retailers are collecting large volumes of transaction data at the point of sale. This data makes pinpointing consumer behavior easier than ever, as retailers obtain real time data about consumer preferences, whether it is the latest fashion trend, a hot new food item, or packaged good.

With Big Data, retailers have the ability to stay on top of the competition and respond quickly to consumer demands. But point-of-sale transactions aren’t the only source of Big Data. Retail supply chains and internal processes are also generating large volumes of data. If retailers want to succeed in a competitive marketplace, they must not only collect retail data, they must also understand how to control it.

As more retail companies grow through mergers and acquisitions, expand into new territories, or launch new product lines, they must consider how data and processes work together to support the businesses’ near term and long term goals. Here we present some simple rules that retailers can follow to help them capitalize on the valuable data they have while staying in control.

Read more...

56 Million Payment Cards Compromised In Home Depot Breach

UPDATE: The Home Depot has reported that 56 million credit and debit cards may have been compromised in a data breach that extended over a period of five months. The attack has been spotlighted as the largest data breach to hit a retailer. In fact, the breach is significantly larger and more severe than the one Target experienced, which impacted 40 million credit and debit cards during the 2013 holiday season. 

The cybercriminals used custom-build malware to evade detection, the Home Deport reported in an announcement. Prior to eliminating the malware, the retailer put all impacted terminals out of service. The malware has since been eliminated from U.S. and Canadian networks. 

As a result of the breach, the Home Depot is in the midst of rolling out a major payment security project that will provide enhanced encryption of payment data by scrambling card information to make it unreadable. The implementation will be completed by early 2015. 

Retail TouchPoints' original coverage of the news is below. 

Read more...

45% Of Shoppers Don’t Trust Retailers To Keep Their Information Safe

RR Ineractions imageAlmost half (45%) of shoppers don’t trust retailers to keep their credit and debit card information safe from potential hackers, according to a report from Interactions. Up to 44% of respondents have had their personal information stolen as a result of a security breach.

The Retail Perceptions report, titled: Retail’s Reality: Shopping Behavior After Security Breaches, offers insight into how consumers’ loyalty to brands changed following highly publicized data breaches. Up to 12% of shoppers said they stopped shopping with retailers that experienced a breach, with an additional 36% indicating they shopped at the retailer less frequently.

Read more...
Subscribe to this RSS feed