Data Security

3DS2 Enhances Transaction Security, Creates More CX Challenges
July 27, 2023 at 11:31 am

Despite years of work by card issuers, payment processors, businesses and regulators, card-not-present (CNP) fraud continues to grow. CNP fraud increased by 8.5 percent from 2022 to 2023, and it’s projected to represent 73 percent of card fraud losses this year. The most recent version of the 3D Secure protocol, 3DS2, was intended to fight this…

Fraud is Taking a Financial Toll on the Retail Industry
July 20, 2023 at 12:48 pm

The retail industry is impacted by fraud every day — and oftentimes every hour — as incidents continue to run rampant. Bad actors infiltrate both small and large businesses regularly, resulting in billions of dollars in losses for retailers each year. In fact, fraud cost Americans nearly $8.8 billion in 2022, with 2.4 million consumers…

3 Cybersecurity Risks That Retailers Must Mitigate
July 19, 2023 at 3:35 pm

Security breaches continue to pose a significant threat to retailers. With cybercriminals targeting leading retailers including WH Smith and JD Sports, the first quarter of 2023 has clearly highlighted that there's significantly more to be done to mitigate cyberattacks in the retail sector. Technological advancements have empowered businesses to strengthen their cybersecurity. However, hackers continue…

Why Retailers Shouldn't Worry About the OpenAI Senate Hearings
July 11, 2023 at 10:10 am

It’s clear that artificial intelligence is here to stay. Soon, every piece of software and industry will have AI in it. But, naturally, it’s scary. There's so much unknown and the recent Senate hearings on regulating AI have brought up new fears across every industry. Will jobs get replaced? Why would I ever trust this…

Will Hallucinating Bots Ruin Our Automated CX Future?
June 14, 2023 at 1:45 pm

At this very moment we're at an inflection point in the customer service industry. ChatGPT and its Google, Meta, and Amazon.com-backed competitors are the technical breakthrough we’ve been waiting for. At long last, we have the potential to break free of our contact center and BPO legacy and drive true cost efficiency through automation. In…

How Individual Organizations Can Help Protect the Supply Chain
April 25, 2023 at 11:23 am

A supply chain is only as strong as its weakest link. Many of us were reminded of that fact during the pandemic, when everyday items that had always been readily available, like toilet paper, started to disappear from stores. Even with those days now largely behind us, scattered supply chain disruptions have persisted, most recently…

Providing Personalized Experiences While Ensuring Data Privacy
April 25, 2023 at 9:17 am

Personalized customer experience (CX) has become one of the key differentiators for retailers, and today’s digital-savvy customers expect retailers to provide a seamless CX both offline and online. In fact, 82 percent of customers are even willing to share their personal information for personalized experiences. However, customers have also become conscious of how their data…

Yum! Brands Notifies Customers of Data Breach
April 13, 2023 at 10:16 pm

Yum! Brands, which owns the restaurant chains KFC, Pizza Hut, Taco Bell, and the Habit Burger Grill, notified affected consumers last week that the company experienced a cybersecurity breach involving unauthorized access to its systems in January. The data breach, which occurred Jan. 13, was discovered March 9, according to the Maine Attorney General's office,…

3 Non-Obvious Cybersecurity Vulnerabilities Retailers Need to Be Aware of and How to Defend Against Them
April 11, 2023 at 11:27 am

Over the past several years, the retail industry has seen no shortage of challenges. There are some bright spots, however, especially when it comes to new innovations in remote shopping experiences, digital investments, and online capabilities that have enabled retailers to stay ahead as consumer shopping behavior evolved. But while these expanded digital capabilities allowed…

E-Commerce Cybersecurity Trends to Watch in 2023
April 11, 2023 at 9:26 am

The e-commerce industry is flourishing, and being an e-commerce business owner, securing your platform and customer data should be your biggest priority in 2023. But the question is: Why is 2023 the time to reinvent your e-commerce security? Well, most businesses relying on legacy systems and conventional tools/technologies aren’t aware that their customers or employees…