Beware of These 5 E-Commerce CNP Fraud Trends

RAFAEL LOURENCO | March 22, 2019

article image
E-commerce is booming, but so is card-not-present (CNP) fraud. In fact, CNP fraud is growing at 14 percent per year because fraudsters have become more sophisticated about leveraging all the stolen data that’s out there. While this isn’t great news for online merchants, knowledge is power. Here are five fraud trends every e-commerce seller needs to focus on in 2019, along with suggestions on how to fight them. One of the fastest-growing types of fraud against all kinds of organizations is business email compromise (BEC). BEC can target a retailer’s customers by sending an email impersonating customer service and asking for account credentials — a common type of phishing that leads to account takeover fraud. BEC can also do major damage when scammers pose as company executives and then email “urgent” wire transfer or invoice payment requests to other people within the company.

Spotlight

The Reject Shop

Our promise to our customers is simple; always get more for your money through the fun and excitement of discovering a new bargain. We offer a wide variety of general consumer merchandise, with particular focus on everyday needs and lifestyle and seasonal merchandise.

OTHER ARTICLES

What the coronavirus means for DTC brands

Article | April 2, 2020

In the past several weeks, over 100 retailers both legacy and DTC have temporarily shuttered their doors or reduced hours to help stop the spread of the coronavirus. For digitally native brands, which operate few stores relative to more traditional players, the move to operating exclusively online, in theory, should have come with little disruption to business. But that hasn't been the case. Online spending at ThirdLove during the week of March 16 fell 39% week over week, while Poshmark fell 30% and StitchFix fell 9% during that same period, according to Edison Trends data shared with Retail Dive. As a whole, direct-to-consumer brand week-over-week spending fell 7% on average between March 2 and March 22. Comparatively, the average week-over-week increase for these brands from Jan. 6 to March 1 was 1%, according to the data.

Read More

Can AI give retail a boost?

Article | April 2, 2020

The retail industry has undergone multiple transformations during the past century, with those who adapt and innovate continuing to survive. It also helps if one is exceptionally unique. It seems that the world's consumers have gotten a little tired from having to explore multiple shopping locations to find what they want or need. But the opportunity for companies to display their branding and sway customers to buy more than they need was once considered a ground breaking idea. In the United States (US), before 1916, customers would pass their grocery list to a clerk, who would then put items together for shoppers in one bag. That all changed when Piggly Wiggly opened over 100 years ago – allowing customers to instead browse the store and collect the items by themselves in a basket.

Read More

FLEXIBILITY THE ORDER OF THE DAY IN RESTAURANT POS

Article | April 2, 2020

In this previous blog, we set out how self-service kiosks represented a new vision for customer-centric POS in the hospitality trade, building on the work done by QSR pioneers such as McDonalds and Nando’s. Of course, there is no one-size-fits-all solution for how the future of POS in the restaurant sector will evolve. Different operators with different priorities will want to get different things from point of sale, not least because customers will also have varying demands and expectations. The beauty of modern technology is that it can provide the agility to meet a diverse range of needs. POS systems are no longer all about having tills at fixed points on the premises, they can operate in many different ways at once. Digitisation has unshackled POS, allowing restaurateurs to focus on shaping the optimum customer experience, with choice and flexibility at its heart.

Read More

Walmart will cut store hours starting Sunday to give workers time to restock

Article | April 2, 2020

Walmart Inc., the biggest U.S. retailer, will cut its store operating hours starting Sunday to give its workers time to restock shelves as the coronavirus outbreak intensifies. The pandemic is prompting Americans to buy more groceries and other daily necessities, often emptying shelves in anticipation of an extended period of so-called social distancing or self-isolation. The number of confirmed Covid-19 cases globally has risen to almost 152,000, with deaths nearing 5,700. “I don’t think any of us have been through an experience like this,” Dacona Smith, Walmart’s U.S. executive vice president and chief operating officer, said in a statement, adding that the change is to ensure “associates are able to stock the products” that are in demand. Stores and neighborhood markets some operating as long as 24 hours a day will open from 6 a.m. to 11 p.m., while those with shorter hours will retain their existing schedules, the Bentonville, Ark.-based company said.

Read More

Spotlight

The Reject Shop

Our promise to our customers is simple; always get more for your money through the fun and excitement of discovering a new bargain. We offer a wide variety of general consumer merchandise, with particular focus on everyday needs and lifestyle and seasonal merchandise.

Events