The Open Library
In addition to Card Not Present.com’s feature content, our Open Library
is a repository of information, interviews, statistics, reports and opinion presented in one easily accessible location.
The excitement around using mobile devices to make payments has been building for half a decade. Nearly all the attention, however, has been on leveraging the opportunities rather than dealing with the fraud everyone knows will be a problem when mobile payments scale.
Recently, CardNotPresent.com, Kount and The Fraud Practice undertook an analysis of the mobile landscape and how merchants, acquirers, card networks, issuers and service providers are addressing fraud in the mobile channel. CardNotPresent.com polled its readership, resulting in more than 400 survey responses. Kount and The Fraud Practice compiled and analyzed the data, resulting in this comprehensive 60-page report that looks at mobile fraud from the perspective of each of the stakeholders.
Mobile Survey 2012 is the first of an annual series focused entirely on mobile payments and fraud that merchants and service providers can use to establish reliable benchmarks directing their mobile payments efforts.
At the 5th Mobile Contactless Payment Innovations Summit in Chicago that concluded recently, CardNotPresent.com President and Founder Steve Casco spoke with Dan Butler, Vice President of retail operations for the National Retail Federation, who named mobile retailing as one of the most important priorities for retailers entering the 2012 holiday season and moving into 2013.
Butler delivered a presentation at the event that detailed the major investments that many retailers are making in mobile right now. He presented a detailed portrait of today’s consumer that featured the many ways they are ready for mobile commerce and what retailers are doing to address that need.
While the number of companies investing in e-commerce is large (85 percent) it is projected to remain level with last year, while the number of companies investing in mobile commerce initiatives is projected to rise from 25 percent last year to 40 percent in 2012. Butler touched on the growing importance of the tablet, predicting the number iPads sold will increase from almost 47 million in 2011 to more than 120 million in 2015. More importantly, tablet users spend 10 to 20 percent more that mobile or online shoppers and 60 percent of tablet users have already used them to make a purchase.
For the moment, Butler said, most retailers are taking a conservative approach (modest investment levels and small mobile teams) to mobile. But, the evolving nature of today’s consumer indicates that will change soon. Download a copy of Butler's presentation here.
Merchants that rely on affiliate marketing to drive traffic to their e-commerce Websites expose themselves to fraud from unscrupulous affiliates looking to rack up commissions using stolen credit-card data. Rey Pasinli, executive director of e-commerce merchant services provider Total Apps Inc., says, on average, 3 percent of a merchant's affiliates generate 50 percent of this type of fraudulent transaction. Listen as Pasinli discusses how merchants can be more aware of affiliate fraud and how they can weed out bad affiliates by using data already on hand.
Watch the Video Interview Here
Every industry develops its own jargon in an effort to make communication among members easier. But, the alphabet soup of acronyms and industry terms casually thrown around by experts in the card-not-present payments space can be like a foreign language to merchants that just want to be able to accept payments through their Website or over the phone.
As a service to industry newcomers and to merchants that rely on their processors, acquirers and anti-fraud providers to do business—but sometimes don’t entirely understand what they’re talking about—CardNotPresent.com is presenting a glossary of industry payment terms. The document, which was assembled by Connecticut-based card-not-present consultancy CNP-Solutions, LLC will be available as a free resource in the Open Library section of CardNotPesent.com. It contains more than 300 terms that and will be extremely helpful communicating with payments service providers.
Download the 19 page PDF here
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