In December, Recurly published research on holiday shopping that showed that subscription commerce continues to grow at an impressive pace. This mirrors the overall growth in holiday e-commerce, which industry research indicates grew by 16% over the previous year. Unfortunately, while Santa was bringing more gifts to more people, the Grinch was busy stealing gifts—and revenue—in the form of online fraud.Continue Reading
Subscribe for Recurly Blog Updates
Thank you for subscribing!
First, the good news for e-commerce merchants: card-not-present (CNP) channels in the US continue to outpace total retail sales, according to the Dept. of Commerce. CNP transactions increased nearly 11% last month, compared to 2015, with sales totaling nearly $47 billion. June and July saw increases of 14% each compared to last year. In addition, as a result of EMV, card networks are reporting that counterfeit fraud has declined by more than 50% compared to a year ago. One top retailer even reported a decline of 90% in their counterfeit fraud just 30 days after implementing the EMV technology.Continue Reading
The EMV liability shift which occurred last October (and which we discussed initially here, with an update here) brought dire warnings of fraud moving from point-of-sale to online, CNP transactions. Despite the risk, many smaller brick-and-mortar merchants delayed implementing the new “chip” technology, and that decision may be coming back to haunt them now.Continue Reading
Last year, EMV technology finally came to the U.S. after many years of use in Europe. The embedded microchip in an EMV card replaces the magnetic swipe and provides additional security features. It has also proven to bring additional headaches to POS retailers as they make the switch to EMV-compliant terminals. And, industry experts all predicted that fraudsters, stymied by the increased security inherent in the new EMV cards, would move their efforts to the card-not-present world of e-commerce, as happened in other countries when they implemented EMV-card technology.Continue Reading
The holidays are upon us. Traditionally, the holiday shopping season starts with Black Friday which denotes the time of year when most retailers hope to go “in the black” in terms of their income statement. But one thing that makes retailers “see red” during this most wonderful time of year are credit card chargebacks.Continue Reading
EMV is the new credit card technology finally coming to the US after many years of use in Europe. With an embedded microchip and associated security features, these new EMV cards are more resistant to fraud, in particular at Point of Sale (POS). Unfortunately, this means that nefarious types may shift their efforts to Card Not Present (CNP) fraud—as has happened in the past wherever EMV cards have been launched.