Organized retail crime (ORC) continues to grow, with 83 percent of merchants reporting an increase in the past year, according to the National Retail Foundation’s 12th annual ORC study.
Fraudulent transactions where a credit card is not physically presented to a merchant—increased significantly from Black Friday to Cyber Monday 2016 when compared to the same period in past years.
Global retailers can expect a 12 percent growth in online fraudulent activity in the upcoming holiday season, compared with the same period last year—and lower ticket prices on fraudster-targeted gifts and products.
One cyber company is predicting a significant increase in card-not-present fraud—fraudulent transactions where a credit card is not physically presented to a merchant—from Black Friday to Cyber Monday when compared to past years.
Contactless payment systems remain largely unfamiliar to U.S. consumers despite a high level of satisfaction with the technology’s speed convenience and ease-of-use.
Organized retail crime is continuing to grow, with 83 percent of merchants surveyed reporting an increase in the past year, according to the 12th annual ORC study by the National Retail Federation.
After several years of slow adoption, mobile wallets are finally starting to gain real traction with consumers, but many still need an extra push to turn their mobile wallet use into a true habit.
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