- According to Yahoo News, since the limit for contactless card payments was raised to £45 last April, people are increasingly making use of contactless payments
- Contactless payments allow transactions to be made without handling cash and reduce the need for physical contact with devices where people need to input their PIN.
- Along with bringing a new type of customer experience and reducing friction, contactless payments and card not present transactions bring a new set of challenges such as fraud and chargebacks that need to be addressed.
- The research also indicates 72% of consumers say they were most impressed with brands that were able to “create new alternatives for delivery, pickup and returns.”
- As businesses deploy or increase buy online, pick up in store, and other alternatives to traditional brick and mortar shopping, they must adopt specific fraud prevention measures.
- An automated, AI-driven fraud prevention solution that can return fast and accurate fraud decisions is the best way to scale operations.
- Restaurants are realizing the benefits of offering customized rewards geared toward patrons’ specific needs through the channels they use most. One PYMNTS survey revealed up to 84 percent of consumers are choosing businesses that customize their engagement efforts to their needs.
- In order to create a customized experience based on consumer preferences, businesses need a lot of data. In partnership with Snowflake, Kount recently released Data on Demand, which gives businesses the opportunity to gain actional customer insights to improve the customer experience.
- According to CNN, third-party sellers on Amazon and other e-commerce sites are sending random products to people across the US as part of what’s known as a “brushing scam” – a bizarre scheme that helps boost a vendors’ ratings online.
- Reviews oftentimes drive business better than advertising, but fake reviews can leave a customer with a bad taste in their mouth and damage brand trustworthiness.
- eCommerce fraud prevention and identity trust networks like Kount’s platform make it possible to operate free of fraudsters.
- Twitter is asking its users for help in combating fake news.
- It has announced a pilot that allows people to submit notes on tweets that may be false or misleading.
- Participants will have to provide a verified phone number and email to take part, in a bid to keep bots and bad actors away, as well as having no recent rule violations against their Twitter account.
- If a fraudster is able to take over the account, they will now have access to both a phone number and email, both of which can be used to commit fraud. Businesses need to protect against account takeover to ensure customer data remains private.
- As announced this fall, the Federal Reserve convened a focus group of 12 fraud experts to create an industry-recommended definition of synthetic identity fraud.
In 2020, sticky.io and Kount teamed up with Modern Retail to survey brands, retailers and agencies about what tools and tactics they’ll use in 2021 to stop fraudsters from damaging their business and harming their loyal customers.
Brad Wiskirchen, CEO of Kount, dives into the pandemic’s effect on payments, eCommerce and fraud prevention, and the importance of businesses to address account protection by early 2021. “As new digital interactions between our customers and partners and their end consumers develop, establishing identity trust will be essential for preventing and responding to new threats,” says Wiskirchen in “A Look Forward: What Executives Wish for America and the World in 2021.”
Stuzo and Kount partnered to bring Kount’s industry-leading, AI-driven fraud prevention solution, offering unparalleled protection and enabling seamless customer experiences, to everyday spend retailers, such as Convenience and Fuel, Restaurant/QSR, Grocery, Dollar, and Health and Wellness.