Tag Archive: consumer protection

Data Security Guidelines for Ecommerce

December 26, 2018  Published by

While it feels like stories about corporate data breaches are more common than ever nowadays, it’s definitely not a bandwagon you’d want to join. In addition to losing the trust of your customers, there can be substantial costs related to a data breach in the form of security upgrades, legal fees, and more. To help keep your ecommerce company from joining the growing list of hacked businesses, use the following guidelines to tighten up your website security and protect consumer data. Identify region-specific compliance requirements Some states and countries have requirements regarding how companies use, save, and store consumer data.…... View Article

Social Engineering Prevention Guidelines for CSRs

August 22, 2018  Published by

Information security is an ever-evolving issue for ecommerce sites. Even though technology has done a lot to stop them, fraud tactics are always changing in response to those countermeasures. In some cases, there’s just not much technology can do. Take social engineering – when a fraudster posing as their target manipulates customer service representatives into granting access to the target’s account or private information – for instance. Also known as voice-phishing, or “vishing,” the practice is less common than email-based phishing but every bit as dangerous to ecommerce. According to the education and awareness website, social-engineer.org, the average cost of…... View Article

9 Tips to Lower Cart Abandonment Rates

October 5, 2016  Published by

Cart abandonment is one of the most common ways ecommerce sites lose sales. It’s a ubiquitous problem that happens to even the best sites. But fortunately, there are many features and preventative measures you can implement to improve sales and the customers’ experience. Be clear on the final cost Many ecommerce sites notice a huge bounce rate once a customer begins the checkout process and sees the final order total – especially if it has increased since the checkout process started. Since increases are usually due to shipping costs, include an estimated shipping fee as early as possible in the…... View Article

Ways to Strengthen Shopper Trust and Loyalty

July 20, 2016  Published by

Customer retention in ecommerce requires brands to earn the trust of shoppers. In its 2015 Consumer Payments Survey, PwC’s subsidiary Strategy& found that users value the following elements when shopping online: data privacy, transaction security, and worthwhile rewards for brand loyalty. [more] Essentially, these all boil down to issues of trust. Shoppers want peace of mind knowing that their personal information won’t be abused or sold, that their financial data will be secure, and that e-tailers will reward their loyalty and information-sharing with good deals. Addressing these concerns can help you build trust and loyalty with your customers, but where…... View Article

The Importance of Balancing Your Anti-Fraud Efforts

April 13, 2016  Published by

Fraud is a consistent problem for ecommerce businesses. It’s tempting to utilize all the fraud prevention tools at your disposal to ensure that nothing seeps through the cracks. Unfortunately, fighting too hard against fraud can negatively impact your users’ experience and overall sales. While a 0% chargeback ratio sounds great, it’s not worthwhile if it means you are turning away 10% of your legitimate customers due to false flags from your security solutions. [more] Fraud has to be preemptively prevented without intruding on an honest customer’s shopping experience. An overly stringent fraud prevention system poses a risk of turning away…... View Article

Common Types of CNP Fraud to Watch Out For

March 30, 2016  Published by

Fraudulent activity for card-not-present (CNP) transactions has been sharply increasing. According to an article from pymnts.com, credit card fraud is expected to more than double by 2018, reaching $6.4 billion. The enhanced security of EMV chip cards have influenced fraudsters to focus on “easier” CNP transactions. Plus, with the US markets finally adopting EMV technology, cross-border credit card fraud is expected to increase as well.  [more] To ensure your customers’ information is safe from fraudsters, revisit your security strategy to make sure you have plans to address the following types of CNP fraud: Carding To check whether stolen card info…... View Article

3 Ways to Battle CNP Fraud

January 20, 2016  Published by

Fraudulent activity for card-not-present (CNP) transactions has been sharply increasing. According to research from ACI Worldwide, online retail fraud attempts have increased 30 percent year over year. While part of this is due to the increasing success of the ecommerce industry, the enhanced security of chip-and-PIN cards utilized by brick-and-mortar retail have influenced fraudsters to focus on “easier” CNP transactions. [more] In order to protect your business and customers, there are three different security technologies you can utilize: Proactive risk management: This technology combines predictive analytics and a set of defined rules to provide fast and flexible responses to the…... View Article

Why & How to Prioritize Security Compliance

November 25, 2015  Published by

Keeping your ecommerce website up to date on the latest best practices in security compliance protects your business in many ways. Your data is safe, and so is your reputation with customers – who trust you with their personal and financial information. If you experience a breach because you didn’t have the proper security measures in place, you may face fines and legal penalties. As an example, Target Corp. settled claims over its 2013 holiday season data breach where they agreed to pay Visa issuers up to $67 million. There are multiple financial incentives for maintaining strong site security. [more]…... View Article

Tips for Battling Data Breaches & ‘Fast Fraud’

September 16, 2015  Published by

With non-physical goods – like ebooks, music, video games, digital gift cards, etc. – transactions occur instantaneously, with little verifying information. These speedy transactions are convenient for customers, but have opened the door to “fast fraud,” which is quickly (no pun intended) growing into a major issue for ecommerce sites. In these types of digital transactions, traditional payment solutions don’t have the verification speed to match the product delivery speed (which is instant). This allows fraudsters to steal and resell digital goods and/or consumer data, creating huge problems for e-tailers.  [more] According to the Identity Theft Research Center, (known) data…... View Article

Credit Card Security: Bad News for Ecommerce?

June 24, 2015  Published by

You don’t even have to be tuned into the news to have heard about the the increased amount of credit card fraud and theft of customer data from retailers. Chances are, you’ve received an email from a retailer apologizing for the breach and advising you to change your login data and check your credit card statements. Luckily, the advent of smart-chips in credit cards should increase credit card security – but not necessarily for ecommerce sites. [more] EMV (named for founders EuroPay International, MasterCard and Visa) smart-chip cards are becoming globally standardized. These credit cards come embedded with a computer…... View Article