Digital Wallet Use On The Rise
The mobile payments industry is growing rapidly and the use of digital wallets is surging, both overseas and here in the U.S. In an article published earlier this week, CardNotPresent.com reported that digital wallets will account for $1.35 trillion in spend worldwide this year, which is a 32 percent increase from last year. In the […]
The Power of Big Data
There’s no disputing the power that information provides people involved in the payments industry. These days, mom-and-pop merchants can benefit from Big Data just as much as high volume e-commerce titans. At the forefront of importance for merchants big and small are the issues of security and authorization. Nathan Trousdell, Director of Strategy & Corporate […]
Retail Roundup: Learning Loyalty
Loyalty is a big part of what keeps your customers coming back and is also a driving force behind increased sales. Even though that’s pretty much common knowledge, figuring out what creates loyalty is somewhat of a mystery – that is, unless you know the habits and behaviors of your customers. Brick-and-mortar remains relatively healthy […]
Online Fraud Attempts Surge Over The Holidays
According to payments processor, ACI Worldwide, global holiday online transactions grew 16 percent from 2015 to 2016. However, online fraud attempts nearly doubled that number over the same time period. From Thanksgiving day to New Year’s Eve of 2016, there was a 31 percent increase in attempted online fraud, peaking on Christmas Eve as well […]
Gift Card Fraud is a Criminal Industry on the Rise
More than $127 billion is spent on gift cards each year — and you know what that means — fraudsters are paying attention. Gift card fraud isn’t quite as sexy as credit card fraud or data breeches because gift cards don’t involve personal identification, but it is a growing fraud industry nonetheless. It is growing […]
Consumer Financing Options Help SMBs Compete
The ability for small to mid-sized businesses to offer financing to its customers can’t be understated. With impressive percentages like the 77% of consumers saying the availability of financing drove their choice of retailer. That means while visiting a merchant’s shop, on-the-spot decisions are being made based on financing options. And then there’s the topic […]
The Case Of The Vanishing Department Stores
After a seemingly busy shopping season, a couple of large retailers have decided to shut down a number of their stores, citing disappointing holiday sales as one of the biggest reasons. Macy’s and Sears announced shortly after the new year that they would be downsizing. Both stores are facing an unfortunate reality: the health of […]
Snapchat And The State Of Social Commerce
Social media is exploring the world of social commerce, using various platforms to advertise or assist in the actual buying and selling of products. Snapchat is the latest to test the waters and their parent company, Snap Inc., is currently testing two new advertising tactics: deep-linking and auto-fill. While social commerce is a relatively new […]
False Declines Hurt Card Issuers, Too
In 2015, an estimated $40 billion in total was lost globally due to fraud. Of that, $18 billion were losses associated with false declines, as Card Not Present reported a couple of days ago. Perhaps even more interesting was the fact that it was a 29% increase from the year before. As National Merchants reported […]
Survey: Consumers Dictating Payment Methods For Merchants
“Cash, check or charge.” It used to be that the owner of an establishment was the one who decided how their goods or services would be paid for during a transaction. Their word was final and it was based on which method the merchant was most comfortable with. According to a recent survey by ControlScan […]