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Digital Sales Boom Puts Spotlight on Fraud Control Systems

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The move by retailers to online and mobile selling to survive the pandemic has resulted in a significant increase in digital fraud activity.

The “2020 True Cost of Fraud Study: E-commerce/Retail Edition” by LexisNexis Risk Solutions found this to be partly because some fraud control systems are outdated, and partly because of increased transaction volume.

Successful monthly fraud attempts increased on average by up to 48 percent for mid-sized and large e-tailers in the United States, and 27 percent for smaller ones, the study found.

“In most cases, the security frameworks have already been established, due in part to regulatory compliance requirements,” Matt Keil, director of product marketing at Cequence Security, told the E-Commerce Times. “What has changed due to the pandemic is the volume of traffic — which has increased — and the speed of innovation.”

Existing fraud control systems that physically verify a customer’s credit or debit card and cannot cope with sophisticated new techniques which include the creation of fake identities and attacks from globally organized and connected fraud networks sharing stolen identity information.

Additionally, consumer demand for fast online and mobile transactions makes authentication more difficult.

Businesses operating during the pandemic that had higher mobile purchase transactions with in-store pickup experienced more fraud volume and higher fraud costs because they had to rely on store employees for identity authentication — rather than solutions designed to detect mobile fraud, according to the study.

LexisNexis Risk Solutions surveyed 800 risk and fraud executives at retail and e-commerce firms in the United States and Canada, from February to April, for this study.

Botnet Problem

A botnet is a collection of devices connected to the Internet — PCs, servers, mobile devices — that are infected and controlled by malware to send email spam, engage in click fraud campaigns, and launch other types of attacks on victim’s computer systems.

Mobile botnet attacks have increased, because more people are shopping over mobile devices and retailers are finding it difficult to distinguish between legitimate customers and botnets, LexisNexis Risk Solutions found.

Bot traffic “mimics people and tests user name / password combinations and credit card information on sites in a highly automated fashion,” Ameet Naik, security evangelist at PerimeterX, told the E-Commerce Times.

PerimeterX detects and protects against automated bot attacks in both mobile and Web applications.

“People used to worry about skimmers stealing information at an ATM or gas station pay point, and now that can happen any time you do business online.”

Approximately 58 percent of bot attacks on e-commerce sites are highly sophisticated, distributed, mutating bots, according to cybersecurity firm Radware.

How to Best Improve M-Commerce Security

Retailers “need to focus more on the application programming interfaces (APIs) that retailers are using to add elements like pickup and delivery, which may not have existed before,” Cequence’s Keil said.

An API is a computing interface that defines interactions between different kinds of software — what kind of calls or requests they can make, how to make, them, what data they can use, what conventions to follow, for example. It can be used to extend software’s existing functionality.

Mobile applications rely heavily on APIs to feed the same backend systems that support the Web applications, he noted.

“Attackers deconstruct the mobile app, then use automation to attack it,” Keil pointed out. “APIs are stateless, and can include the entire transaction, making protection difficult.”

Rapidly deployed APIs that may not have followed the normal development, quality assurance and publication process are targeted, said Keil.

Targeting mobile APIs is to be expected because that’s where e-commerce traffic is growing the fastest, PerimeterX’s Naik said. Attacking mobile APIs is simple and can leverage the same infrastructure and attack mechanisms as attacking direct APIs and Web APIs, he observed.

Protecting Retail Sites

Best practices for retailers would be “looking at the full consumer experience and applying risk-based multi-layered fraud controls to the appropriate step in order to reduce risk and fraud,” Chris Schnieper, director, fraud & identity at LexisNexis Risk Solutions, told the E-Commerce Times.

Layered security uses several components to protect a network’s security, with multiple levels of security measures, to ensure that every individual defense component has a backup covering flaws or gaps in other defenses. Think of it as Roman soldiers locking their shields when standing in battle formation.

Such controls include velocity checks and real-time scoring at the front end to determine the risk of the transaction; digital identity and behavioral biometrics to assess the customer browsing period; and additional authentication checks upon checkout or authorization.

Velocity checks look for fraud patterns within a specified period of time such as heavy use of a credit card. For example, when fraudsters quickly make a number of purchases to max out a stolen credit card once they succeed with their first purchase.

Fraud scoring looks at each individual component of a credit card transaction to determine the probability that the transaction is unauthorized, fraudulent, or comes from a stolen credit card or credit card number. This includes using an address verification service and the CVV2 — the three or four-digit number printed on the front or back of the card.

Your digital identity is based on the Web browser you use, your Web history, installed plugins, and information about your behavior online. Tracking that identity is one reason businesses install tracking cookies on the browsers of visitors to their websites.

Behavioral biometrics look at how people do what they do. That includes how people scroll or toggle between phones, how they type, and what they do when they visit a website.

Account Takeover Attacks

For example, website visitors who go straight to a login page without clicking on any other links or scrolling around the site are likely to be bots executing an account takeover (ATO) attack, Naik warned.

In an ATO attack, hackers use stolen personally identifying information such as someone’s name, credit card number, street address and/or social security number, to gain access to an online account.

“Investments in digital identity, behavioral biometrics and other authentication tools are investments e-commerce and retailers can make to keep the total cost of fraud low in the long run,” Schnieper said.

Over half of the midsized to large merchants selling digital goods that responded to the LexisNexis Risk Solutions survey say they have fully implemented a layered approach that integrates cybersecurity, the digital customer experience, and fraud prevention efforts. Those selling only physical goods lag behind.

“Consider adopting automated Web application protection technologies that can leverage sophisticated machine learning engines to spot emergent anomalies in real time and that block malicious visitors from scraping or attempting account takeover attacks,” Naik advised.

“Now is the time to be more vigilant than ever since, along with traffic spikes, Web attacks are on the rise.”



Richard Adhikari has been an ECT News Network reporter since 2008. His areas of focus include cybersecurity, mobile technologies, CRM, databases, software development, mainframe and mid-range computing, and application development. He has written and edited for numerous publications, including Information Week and Computerworld. He is the author of two books on client/server technology. Email Richard.

Source: http://www.ecommercetimes.com/story/86779.html?rss=1

Ecommerce

X-Rite Makes It Easier for Printers to Measure Color on Credit Cards

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New X-Rite Payment Card Holder works with the eXact and Ci60 Series of spectrophotometers to measure color on credit, gift, loyalty and key cards.

Working directly with our customers, we created the Payment Card Holder to help press operators properly align a card and take multiple spot measurements. This makes for a repeatable process across shifts and facilities.

X-Rite Incorporated and Pantone LLC, global leaders in color science and technology, today announced a new fixture that helps printers and manufacturers measure and control color on credit, gift, ID, loyalty, hotel key, and membership cards. The new Payment Card Holder works with the eXact Family and Ci60 Series of portable handheld devices to securely position and align the card for an accurate spectral reading.

“Brands use eye-catching colors, logos, metallic foils, and artwork to make their gift, loyalty, promotional, and credit cards stand out,” said Michael Beering, Product Manager, X-Rite and Pantone. “Any mistake in production can be costly and force the entire job to be scrapped. Working directly with our customers, we created the Payment Card Holder to help press operators properly align a card and take multiple spot measurements. This makes for a repeatable process across shifts and facilities. It also helps operators identify quality control issues early in the process.”

X-Rite’s Payment Card Holder allows press operators to secure a card and align a handheld spectrophotometer at precise points of measurement to evaluate color accuracy. The ruler features a millimeter scale that enables operators to capture measurements at specified locations for a repeatable process across shifts and manufacturing facilities. As a result, printers and manufacturers can adhere to standard operating procedures for consistent measurements, even across operators, shifts, and production sites.

Printers can use the new fixture with the Ci64, Ci62, Ci60, or eXact Family of spectrophotometers to measure a wide variety of inks and foils commonly used in metallic or plastic cards. After each measurement, users see actionable pass/fail data on the device screen and can import data into InkFormulation Software and quality control software such as ColorCert and Color iQC.

“The ability to take accurate and consistent measurements on payment, gift, ID, or key cards and integrate that data into ink formulation and quality control software helps streamline the manufacturing process. Printers can use the data to identify color drifts and make corrections to ensure they stay within color tolerances. This saves time, costs, and speeds production,” continued Beering.

For more information on X-Rite’s Payment Card Holder visit https://www.xrite.com/categories/parts-accessories/payment-card-holder

About X-Rite
Founded in 1958, X-Rite Incorporated is a global leader in the science and technology of color and appearance. With Pantone, X-Rite employs more than 800 people in 11 countries. The company’s corporate headquarters are located in Grand Rapids, Mich., with regional headquarters in Europe and Asia and service centers across Europe, the Middle East, Asia, and the Americas. X-Rite offers a full range of solutions used by manufacturers, retailers, printers, photographers and graphic design houses to achieve precise management and communication of color and appearance throughout their processes. X-Rite products and services are recognized standards in the printing, packaging, photography, graphic design, video, automotive, paints, plastics, textiles and medical industries. For further information, please visit http://www.xrite.com

About Pantone

Pantone provides the universal language of color that enables color-critical decisions through every stage of the workflow for brands and manufacturers. More than 10 million designers and producers around the world rely on Pantone products and services to help define, communicate and control color from inspiration to realization – leveraging advanced X-Rite technology to achieve color consistency across various materials and finishes for graphics, fashion and product design. Pantone Standards feature digital and physical color specification and workflow tools. The Pantone Color Institute™ provides customized color standards, brand identity and product color consulting as well as trend forecasting inclusive of Pantone Color of the Year, Fashion Runway Color Trend Reports, color psychology and more. Pantone B2B Licensing incorporates the Pantone Color System into different products and services, enabling licensees to communicate and reproduce certified Pantone values and improve efficiencies for their users. Pantone Lifestyle brings color and design together across apparel, home, and accessories. Learn more at http://www.pantone.com.

# # #

©2020 X-Rite, Inc. All rights reserved. X-Rite is a registered trademark of X-Rite, Inc. All other trademarks are the property of their respective owners. PANTONE® and other Pantone trademarks are the property of Pantone LLC.

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giftya, the Easiest Way for Consumers to Give Back to “Main Street”…

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Support local business with the help with giftya.

“Giftya gives consumers the flexibility to use their digital gift to order a meal for themselves, their family or to buy essentials for their home while also helping support local restaurants and merchants during a difficult and challenging economic period.” – Jason Wolfe, Founder and CEO, giftya.

As part of its long-standing tradition of giving back to the communities and businesses it serves, giftya, a new contactless mobile gifting service is adding hundreds of local and national merchants to its platform offering consumers the ability to text an eGift to a loved one, friend, colleague or essential worker to local and national merchants such as San Francisco’s Project Zen, Lolinda, and Uno Dos Tacos, New York’s Strip House and Sarge’s Deli and national retailers such as Guitar Center, Peete’s Coffee and Cabela’s among many others. All consumers have to do is choose the merchant, select an amount, and personalize the gift for the recipient with a photo, video, or uniquely designed digital wrapper.

Small businesses, retail establishments, restaurants, and cafes, have lost most if not all of their customers over the last several months as a result of COVID-19. Those restaurants that could move to takeout models have done so, and those that couldn’t have closed entirely. Hotels, which are usually full this time of year, are nearly empty without visitors and business travelers and the registers at local merchants aren’t ringing as usual without the normal foot traffic.

Giftya aims to increase business to these local and national merchants when they most need it. It is not charity however; sending a giftya to a loved one, colleague or essential worker in your community can be viewed more like an investment. giftya is the win-win we all need right now and encourages spending with local storekeepers and restaurants that are hurting now and that you want to see survive the COVID-19 lockdown. Here’s the beauty of this too: You may get a giftya for somewhere you’ve never been, that may well become your new favorite place.

“Supporting our local communities and independent merchants has always been a strong part of our ethos,” said Jason Wolfe, Founder and CEO, giftya. “We want to show that there are a number of ways consumers can continue to support local businesses near and far. And, giftya gives them the flexibility to use their digital gift to order a meal for themselves, their family or to buy essentials for their home while also helping support local restaurants and merchants during a difficult and challenging economic period.”

ABOUT GIFTYA

Giftya, a Telos Gifting, LLC company, is reinventing gift giving with a meaningful no loss, no waste e-gift. Giftya enables you to text a personalized gift for any national or local merchant in the U.S. within seconds. Visit https://www.giftya.com for more information.

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Introducing A Brand New Revolutionary Tech-Infused Apparel Company…

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LiveLids Royal Blue $149

“Everyone should be able to express who they are and what they love through what they wear.” says LiveLids cofounder, Martin Malek.

Live Lids Inc. (LiveLids.com), a tech-infused apparel company, announced plans to launch its game-changing baseball cap with embedded LCD display in time for the holidays.

“I’ve always believed fashion to be the pure expression of self,” said LiveLids cofounder, Martin Malek. “Everyone should be able to express who they are and what they love through what they wear.”

Malek believed the nexus of technology and fashion could accomplish this and so he started with the classic baseball cap and brought it to life with the addition of an embedded 2.4” LCD screen.

The cap has built-in WiFi that enables uploading 100 images at a time to the cap through the LiveLids app. Through the app, the user controls the transition speeds of the images so that their fashion statement is subtly changing every couple of seconds. Charge your cap through a port in the snap back for 8 hours of continuous run time.

LL Nation: “Wear and Share”

The LiveLids App is also a community, much like Instagram or TikTok, that is populated with user-generated content. In fact, it’s the first social community specifically created to curate display-worthy designs across hundreds of genres and themes, meant to be worn on the cap. Users can show their love by displaying logos, photos and artwork inspired by their favorite sports teams, athletes, fashion houses, films, tv shows, celebrities, artists, and pretty much anything else imaginable. No matter what your interests, the community has probably built a playlist for you to wear (or users can create their own) with the built-in app tools.

The cutting-edge tech in LiveLids is complemented by the high quality materials used to make the caps. Each hat has been constructed with the finest blend of lightweight Poly-Elastane material. This innovative cap with unlimited possibilities retails for $149, is available in a variety of popular colors, and arrives packaged in a wonderfully chic, black gift box. The LL cap will be available for purchase online at LiveLids.com starting October 19th. Hats ordered before December 10th are guaranteed to arrive before the Christmas holiday, but only a limited quantity have been made.

App Store: https://apps.apple.com/app/id1535902677

Play Store: https://play.google.com/store/apps/details?id=com.LiveLids.app

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