Merchant accounts face great vulnerability as fraudsters engage in ATO. A survey released by Riskified, a payments and fraud solutions provider, revealed an eye-opening revelation on the devastating effects of ATO’s or Account Takeover attacks on both customers and eCommerce business owners alike. An ATO occurs when a fraudster successfully gains access to a customer’s stored account information within an...
The way we do business is gradually shifting towards fast, simple and convenient methods. While this is undoubtedly good for merchants and shoppers alike, it has also introduced new challenges regarding security and fraud. Here are three trends in e-commerce, and how they’re influencing the raging fight against online fraud. Instant Gratification These days, the one thing shoppers can’t tolerate...
The way we do business is gradually shifting towards fast, simple and convenient methods. While this is undoubtedly good for merchants and shoppers alike, it has also introduced new challenges regarding security and fraud. Here are three trends in e-commerce, and how they’re influencing the raging fight against online fraud. Instant Gratification These days, the one thing shoppers can’t tolerate...
The Internet of Things is making the world more digitally driven and digitally connected. It’s estimated 50 billion smart devices will be used all over the world by 2020. Of course, this will highly add to the convenience of making payments, enabling consumers to easily pay how they want and when they want. However, the issue of secure payment transactions...
Each year, companies face a fire drill when completing their Payment Card Industry Data Security Standard (PCI DSS) audit. What is more, companies have to complete the vulnerability scans that are required by PCI DSS. Why Do Companies Get into a Chaos? The reasons for a PCI compliance fire drill are as follows: First of all, companies are still manually...
With the ever-increasing threat to personal details, which companies hold about their customers, it is important you can feel secure with your merchant account supplier knowing they are keeping safe your customers details. This doesn’t matter if they are the best merchants that provide services to the top paying businesses or the high-risk merchant account who is helping those businesses...
Target has been left with many choices to make after the data breach that occurred in the three weeks surrounding the holiday shopping season of 2013. As many as 40 million customers were compromised when their payment card accounts were hacked. According to an article by the Los Angeles Times, “The company later said that hackers had illegally accessed personal...
As the federal government considers new laws and regulations following the recent Target data breach, it’s important to consider who will unintentionally suffer. With any new laws or regulations, at times the good will have to suffer with the bad. This could be substantial, as nearly 70% of payments and purchases made in the United States are done with credit...
With as many as 5 million mobile point-of-sale readers in circulation in the United States, mobile POS companies will have their hands full following the liability shift set for October 2015 when the nation’s payment card networks step up the migration to the MasterCard-Visa chip and pin system. While this change is fantastic for security reasons, there are sure to...
Mastercard recently announced plans to beef up security to make it more difficult for someone to use a stolen credit card. The company they are collaborating with, Syniverse, looks to help strengthen security by making it virtually impossible for an individual’s credit card to be used outside a certain distance of his smartphone. However, while this sounds like a promising...
