In many communities, finding a babysitter or nanny is hard. Sittercity realized the challenges parents and others faced and launched a website to solve the problem, providing parents with a better, more effective way to find childcare. Founded in 2001, the service—which is accessed via a monthly subscription fee—has connected millions of families across the U.S. with qualified babysitters and nannies.Continue Reading
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What do Delaware, Oregon, and Florida have in common? According to an analysis by Experian, these are the states with the highest fraud related to billing and shipping from card-not-present (CNP) transactions. If you’re an ecommerce business trying to combat this kind of fraud, you should perhaps pay extra attention to orders with billing or shipping addresses in these states. And if you get orders from South El Monte, California, look out. Experian identified this city as having the highest incidence of both billing and shipping fraud—with 1 percent and .64 percent respectively of all orders from that municipality found to be fraudulent.Continue Reading
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
During the holidays, e-commerce businesses know that fraud can run rampant. That’s the impression anyway, but is it actually true?
What is true is that a lot more people are shopping and spending money, both online and off during the holiday season. This year, e-commerce holiday revenue is expected to increase by 11%—from $83 billion in 2015 to $92 billion in 2016. The increase in the number and size of transactions will certainly result in an increase in fraud in absolute terms, although fraud is not necessarily higher when measured as a percentage of total transactions.Continue Reading
All the research indicates that fraud attacks are on the rise and that fraudsters’ strategies and tactics are becoming ever more sophisticated as fraudsters become more brazen in their attempts to steal from businesses and consumers. Fraudsters also have a new favorite target: digital goods. As a result of fraud, card-not-present (CNP) merchants face losing revenue from chargebacks and the loss of the fraudulently obtained goods or services. If the fraud exceeds card processors’ thresholds, they can also face potentially damaged relationships with card issuers, gateways and merchant banks—the entities that businesses depend on to be able to process their payments.Continue Reading
Gift Subscription is not just a holiday buzzword for subscription businesses, it’s a smart customer acquisition strategy. Using the psychology of ‘social proof,’ a gift subscription given between friends or loved ones puts the gifter’s stamp of approval on the product or service, making the recipient more likely to use the gift and convert to a paying customer.Continue Reading