We are all well aware of the complaints about consumer adoption, issuer adoption, complexity in signup, usability and protection rights with these programs, but we have all been trying to quantify if there is a real impact to sales conversion. Mick Scott of Lastminute.com was quoted in the recent article “Industry lays into 3-D Secure”, Phil Muncaster, IT Week, 11 April 2008 as saying "We turned on Verified by Visa in Spain and it was horrific," said Scott. "There was a 30 per cent drop off in completed purchases."
For more information on this topic see the article “Industry lays into 3-D Secure”, Phil Muncaster, IT Week, 11 April 2008
Wednesday, May 7, 2008
Tuesday, May 6, 2008
“We value and secure your private data”
The article from SCMagazineUS.com “Clothing retailer settles with FTC over credit breach” by Dan Kaplan may seem routine. It discusses the missteps the FTC believed the company Life is Good had taken and it outlined the corrective actions. But take a minute to reread the statement by Dan Kaplan; “The FTC said the merchant deceived customers by stating on its website that it valued and secured private data.” Wow, that got my attention. How many retailers take that statement for granted on their website?
Takeaway items:
· If you say you are doing something related to consumer data, you better being doing it.
· Data security issues can still damage your brand and your sales, even if nobody is defrauded. Mr. Kaplan stated in his article that there was no documented case of actual fraud from this breach of over 10,000 accounts.
To read the full article from SCMagazineUS.com “Clothing retailer settles with FTC over credit breach” by Dan Kaplan go to : “Clothing retailer settles with FTC over credit breach”
Takeaway items:
· If you say you are doing something related to consumer data, you better being doing it.
· Data security issues can still damage your brand and your sales, even if nobody is defrauded. Mr. Kaplan stated in his article that there was no documented case of actual fraud from this breach of over 10,000 accounts.
To read the full article from SCMagazineUS.com “Clothing retailer settles with FTC over credit breach” by Dan Kaplan go to : “Clothing retailer settles with FTC over credit breach”
Australians Poised to rollout Credit Card Pins on June 4th 2008
On June 4th 2008 Australia will roll out the capability for card present merchants to offer consumers the choice of confirming payment authorization using a physical signature or by entering a 4 digit pin.
Notable Quote: According to Pen or PIN project spokesman Simon Greig "Australians are among the most prolific card users in the world, making more that 118 million card transactions a month," Quote is taken from the Herald Sun Article by Alice Coster tittled “Credit card PINs punch wrong busttons”.
For more information related to this subject go to the Herald Sun article by Alice Coster titled: “Credit card PINs punch wrong buttons”
Notable Quote: According to Pen or PIN project spokesman Simon Greig "Australians are among the most prolific card users in the world, making more that 118 million card transactions a month," Quote is taken from the Herald Sun Article by Alice Coster tittled “Credit card PINs punch wrong busttons”.
For more information related to this subject go to the Herald Sun article by Alice Coster titled: “Credit card PINs punch wrong buttons”
Have you tried to Fididel yet?
For those of you that haven’t come across them yet, Fididel is a new eCommerce technology offering the ability for real time negotiation of purchases online. Unlike a traditional auction, buyers don’t have to wait for the auction to end to make a purchase. Additionally buyers that want to buy an item, but aren’t willing to pay the asking price can negotiate in real time with the seller or their representative in real time. For sellers this means a greater opportunity for converting sales, with a higher return than traditional sales; and for buyers this means saving money on items they are ready to buy now, without having to wait! Fididel launched their Beta version on Monday May 5th 2008. Fididel offers the technology on a hosted portal, and as an enterprise license.
For more information related to this subject go to the “www.fididel.com”, or the ecommerce-guide.com May 5th 2008 article by Michelle Megna “New Marketplace Offers Real-Time Bartering”. Other articles: “Fididel Launches First Site with Real-time Negotiation to Give Buyers More Control of the Online Shopping Experience”
:“Fididel Invites Online Price Haggling”:“Fididel Launches Live-negotiation auction business”
For more information related to this subject go to the “www.fididel.com”, or the ecommerce-guide.com May 5th 2008 article by Michelle Megna “New Marketplace Offers Real-Time Bartering”. Other articles: “Fididel Launches First Site with Real-time Negotiation to Give Buyers More Control of the Online Shopping Experience”
:“Fididel Invites Online Price Haggling”:“Fididel Launches Live-negotiation auction business”
Payment fraud remains a threat to the success of an EU single market for payments
Based on the article “Card fraud threatens development of European payments network-EU” by Finextra.com on 28 April 2008, it appears that payment fraud is undermining consumer confidence to a level that is impacting initiatives to develop a cross-border payment network in Europe.
For more information related to this subject go to the Finextra.com on 28 April 2008 article titled: “Card fraud threatens development of European payments network-EU”
For more information related to this subject go to the Finextra.com on 28 April 2008 article titled: “Card fraud threatens development of European payments network-EU”
eBay’s move to force payment via PayPal under review in Australia
The Australian government is investigating if eBay Australia's policy of forcing payment using PayPal, which eBay owns, or cash on delivery/pick-up, breaches trade practice and competition laws.
For more information related to this subject go to theage.com 22 April 2008 article titled: “Reserve bank could Scuttle eBay’s plans”
Issuers – Focus on Expanding fraud prevention and detection abilities
According to the Javelin Strategy & Research 2008 Card Issuers’ Identity Safety Scorecard results, the greatest opportunity for Issuers to reduce fraud losses is to expand on their abilities within prevention and detection.
Other notable excerpts:
“Bank of America Scores highest ranking on the Javelin’s 2008 Card Issuers’ Identity Safety Scorecard; second place went to Discover, followed by FNB Omaha and U.S. Bank.” Javelin Strategy & Research
“Findings Show That Arming Consumers with Expanded Account Monitoring Tools is Key to Security and Strengthening Customer Loyalty” Javelin Strategy & Research
For more information related to this subject go to the BusinessWire article “New Javelin Report Benchmarks 25 Top Credit Card Issuers for Consumer Identity Safety Features”
Other notable excerpts:
“Bank of America Scores highest ranking on the Javelin’s 2008 Card Issuers’ Identity Safety Scorecard; second place went to Discover, followed by FNB Omaha and U.S. Bank.” Javelin Strategy & Research
“Findings Show That Arming Consumers with Expanded Account Monitoring Tools is Key to Security and Strengthening Customer Loyalty” Javelin Strategy & Research
For more information related to this subject go to the BusinessWire article “New Javelin Report Benchmarks 25 Top Credit Card Issuers for Consumer Identity Safety Features”
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