- The technology enables shoppers to scan items and pay directly via the cart, eliminating the need to wait in line at the checkout area.
- Innovations like ‘smart’ shopping carts are great for the customer experience but can put businesses at risk of fraud as this service takes a traditionally card-present transaction and makes it card-not-present due to the increased use of mobile wallets.
- Kount recommends using an AI-driven fraud prevention platform with a large identity trust network. A service like Kount’s can make a huge difference in quickly delivering both positive customer journeys for eCommerce models as well as real-time protection against fraud.
- According to PaymentsSource, card testing has seen a spike in occurrence detected on merchant sites as eCommerce purchases have increased.
- Card testing occurs when fraudsters validate stolen credit card details by making multiple, small. Once they confirm which credit card numbers are still live, they proceed with making larger fraudulent purchases. Card testing can be automated which makes it particularly attractive to fraud.
- Creators that are participating in the pilot can add certain products to their videos. Viewers can then see a list of featured products by clicking the shopping bag icon. From there, viewers can explore each product’s page to see more information, related videos, and purchase options for that product
- If an account is taken over by a fraudster, it will give them easy access to purchase products using stolen credentials. Beyond lost revenue, account takeover fraud causes brand damage, and can permanently erode the trust of good customers.
- Learn more about account takeover fraud and how to prevent it.
- Joker’s Stash, by some accounts the largest underground shop for selling stolen credit card and identity data, says it’s closing up shop effective mid-February 2021.
- The Russian and English language carding store first opened in October 2014, and quickly became a major source of “dumps” — information stolen from compromised payment cards that thieves can buy and use to create physical counterfeit copies of the cards.
- Kount believes this instance is a rare case of law enforcement intervening, so Joker’s Stash is calling it quits. But often when a site like this is taken down, another will pop up shortly after.
- Businesses can’t let guard down. They need to be prepared at all times for the event of fraud. Protect your business with a fraud prevention solution, like Kount’s that blocks against the use of stolen credentials.
- This will be the first of many stores that are planned according to Hudson. Passengers running through airports and the absence of checkout lines will prove to be a winning combination for this autonomous checkout.
- The FAA is letting commercial drone-maker American Robotics operate drones without on-site pilots — but with a number of caveats.
- Drones could be the part of the next generation of how packages are delivered to residences and businesses.
- It’s logical to assume that if this works for retailers, others are going to begin to implement drone delivery like restaurants. Last mile delivery can be very complicated logistically, and will bring about new opportunities for fraud. Not only will you have to be on the lookout for porch pirates, but it could potentially bring up the issue of ‘Sky Swipers’ that must be protected against.
Rich L. Stuppy from Kount shares his advice on scaling ecommerce in 2021, with a focus on protecting new revenue channels, earning repeat customers, and levelling up fraud protection
January 25, 2021
Weekly news digest