January 28th, 2015
Retailers’ have a dilemma whose solution will require the most careful of balancing acts.
On one hand, consumers expect to have online and mobile payment technologies available as they increasingly shop from their mobile devices. Indeed, one key recommendation by experts to increase sales is to make the payment process as seamless as possible.
Yet, these technologies directly lead to fraud for the retailer – fraud on the part of their own customers (aka friendly fraud) and from hackers of the ilk that have attacked Target, Home Depot and scores of other stores.
Hence the dilemma. But reading though the lines of two reports chronicling these trends, the barest outline of a solution for retailers begins to emerge.