On the Fast Track: Why Speedy Payments Matter

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  • E-commerce Payments Technology 

Speed matters in eCommerce. It matters throughout the entirety of the digital shopping experience to keep customers engaged and moving toward the sale. It matters when your customer is waiting for an answer on whether or not their payment was accepted. And it matters when you’re evaluating ways to reduce shopping cart abandonment, which can be as high as 68%. Bank Innovation recently updated a monthly list of the fastest payment processors in the world based on GatewayIndex result...Read More

Payments RFM for a Non-profit Organization

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  • E-commerce Payments Intelligence 

So far, we’ve discussed RFM (Recency, Frequency, Monetary Value) analysis and how it can benefit your business by better understanding historical customer behavior. We also took a deeper dive into the results we observed from an internet retailer. But how does an entirely different business perform, say a non-profit organization? Let’s take a look at one of our clients.  As a refresher, both charts are divided into 10 segments and the percentages found in the top chart indic...Read More

Common Fraud Attacks and Mitigation: Next Steps

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  • E-commerce Technology 

Over the past several weeks we’ve outlined three building blocks of fraud detection and how assembling your own mitigation strategy with these building blocks in mind can help to minimize your fraud exposure and reduce the impact of false-positives on your good customers.  Let's recap and explore next steps for common fraud attacks and mitigation strategies: Building Blocks of Fraud Detection Authentication asks a buyer to provide information to prove they are who they say ...Read More

Payments RFM for an Internet Retailer

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  • E-commerce Payments Intelligence 

Now that we’ve covered the fundamentals of RFM (Recency, Frequency, Monetary Value), let’s dive down into some results. We’ll start with an analysis we conducted for one of our merchants, an internet retailer.  These charts can look intimidating, so let’s break down the top chart first. It’s divided into 10 segments and the percentages indicate the portion of total customers that fall into each segment (totaling 100%). The Y-axis of the top chart indicates ...Read More

Common Fraud Attacks and Mitigation: Package Interception and Redirection

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  • E-commerce Payments 

We’ve been discussing common fraud attacks and mitigation strategies centered around three building blocks of fraud detection, which include: authentication, deviation, and reputation. Today, let’s look at the common fraud attack of package interception and redirection and discuss how you can mitigate losses from this type of attack.  Card thieves will use stolen payment cards to purchase hard goods and then either intercept at the cardholder’s home or redirect shipmen...Read More

RFM Analysis: The Father of Wisdom

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We’re in between Mother’s Day and Father’s Day, still riding the high of giving mom the perfect gift (hopefully) and yet anxious about buying something for dad. My dad is a man of few words and fewer material desires, so when he came to me last year requesting a new router plane to support his woodworking habit, I was thankful to have some direction on what to buy him.  I can only guess that the eCommerce merchant I purchased his gift from has a highly advanced RFM mo...Read More

Common Fraud Attacks and Mitigation: Card Testing

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  • Payments 

We’ve discussed building blocks of fraud detection and shared how you can mitigate simple card theft from fraudsters. Let’s look at another common fraud attack, card testing. After obtaining a bulk of stolen card information, fraudsters must distinguish those already reported to issuers.  Fraudsters solve this problem by “testing” each card with an online payment submission.  Approved? It’s show time. Declined? Not so much. Merchants marketing lower-pr...Read More

Common Fraud Attacks and Mitigation: Simple Card Theft

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  • Payments Technology 

In part one of this series we outlined the 3 building blocks of fraud detection. But how can you use these building blocks to mitigate fraud attacks against your business?  Today we’ll explore one of the three most common fraud attacks across industries: simple card theft. Fraudsters employ several methods to obtain payment card numbers. What they do next separates the amateurs from the more advanced perpetrators. Less sophisticated fraudsters often pursue quick hits by purchasin...Read More

3 Building Blocks of Fraud Detection

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Fraud is an inherent risk of accepting payments in eCommerce and one that you need to acknowledge. Fortifying yourself against all attacks with a set-it and forget-it approach isn’t enough because fraudsters continuously adapt.  How can you navigate the burgeoning wealth of industry knowledge to come up with an appropriate plan? Start by understanding three key aspects of successful mitigation strategies.  Fundamental building blocks of an effective mitigation strategy includ...Read More

What to Consider When Integrating with a New Payment Processor

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  • Payments Technology 

Integrating with a payment processor can seem overwhelming, but it doesn’t have to require heavy lifting.  We caught up with our Director of Implementations, Joe Canniff, to get more insight into what you should consider when integrating with a new payment processor. Here’s what Joe had to say: 1.       Tell us a little bit about your background. How long have you been at Litle and what is your role?   I started at Litle in 2006 as an Imp...Read More

What Does Windows XP End of Life Mean for Payments?

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  • E-commerce Payments 

On April 8, 2014, Microsoft ceased support for the Windows XP operating system. This marks the official end of technical support and security updates from Microsoft. Security updates help keep your system and data safe by patching vulnerabilities that may be exploited by malicious individuals. Computers running Windows XP after April 8, 2014 should not be considered protected, and it's important that you migrate to a more current operating system. If your organization continues to run th...Read More

Update: Marketplace Fairness Act and Where It Stands Today

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  • E-commerce 

This time last year, we were discussing the Marketplace Fairness Act (aka the “Internet Tax”).  On May 6, 2013, the U.S. Senate passed the legislation. As proposed, the Marketplace Fairness Act would give states the authority to collect state and local taxes on internet commerce for certain sellers that are not physically located in the state where the purchase is being made.  But before the Act can become law, it must move through the U.S. House of Representatives. ...Read More

The Evolving eCommerce Channel

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  • E-commerce Payments 

This post is contributed by Lorena Harris, Vice President of Corporate Marketing, Vantiv. Vantiv and Mercator Advisory Group recently collaborated to produce research exploring The Top 10 Payment Trends in 2014.  In this two-part series Lorena, who headed the research, describes the evolving eCommerce landscape and discusses what the reality of omnicommerce will mean for online merchants. Consumers have greater access to your eCommerce sites than ever before, staying connected through s...Read More

Omnicommerce is Becoming a Reality

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  • E-commerce Customers Payments 

This post is contributed by Lorena Harris, Vice President of Corporate Marketing, Vantiv. Vantiv and Mercator Advisory Group recently collaborated to produce research exploring The Top 10 Payment Trends in 2014.  In this two-part series Lorena, who headed the research, describes the evolving eCommerce landscape and discusses what the reality of omnicommerce will mean for online merchants. The eCommerce channel is evolving rapidly, accelerated by the ubiquity of mobile devices. According...Read More

eCommerce in the Wake of Data Theft: A Three-Pronged Approach to Rebuilding Customer Trust

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At the end of 2013 headlines of recent data breaches and the personally identifiable information that was at risk because of them were hard to ignore.  As a result, many consumers were left feeling helpless and fearful of what would happen with their personal data seemingly exposed.   Unfortunately, these hacks are becoming more frequent and everyone in the ecosystem, everyone in the payment space, everyone in commerce is, in fact, impacted.   How can you help rebuild con...Read More

Spring Cleaning: Semi-Annual Card Brand Network Enhancements Take Effect

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April and October are scheduled semi-annual enhancement months for the card brands. Among the many changes announced, there are some updates that are particularly impactful to card-not-present (CNP) merchants. As we enter the season of “spring cleaning,” here are three changes from MasterCard® and Visa® (effective April 11, 2014) that can help keep your payments program fresh.  1.       MasterCard’s Large Market Rate Structure ...Read More

Payments Madness: Fraud and Security Selections

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  • Payments 

We’re highlighting 64 considerations for your payments program in our series: Payments Madness. Like the tournament, there are countless bracket combinations and potential outcomes when it comes to payment processing solutions and the tools you employ.  We’ve already made our selections in the regions of Payments Acceptance, Processing Payments, and Revenue Solutions.  Today, we’ll close out our bracket with the region of Fraud and Security Solutions. Every busine...Read More

Payments Madness: Selections in the Region of Revenue Solutions

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We’re highlighting 64 considerations for your payments program in our series: Payments Madness. Like the tournament, there are countless bracket combinations and potential outcomes when it comes to payment processing solutions and the tools you employ.  We've already made our selections in the regions of Payments Acceptance and Processing Payments. Today, let’s explore the region of Revenue Solutions. Processing payments shouldn’t simply be looked at as a cost center...Read More

Payments Madness: Selections in the Region of Processing Payments

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  • Payments 

We’re highlighting 64 considerations for your payments program in our Payments Madness series. Like the tournament, there are countless bracket combinations and potential outcomes when it comes to payment processing solutions and the tools you employ.  Last time we made our selections in the region of Payments Acceptance. Today, let’s explore the region of Processing Payments. There’s a lot that goes in to successfully processing payments in the online and card-not-prese...Read More

Get to Know Payment Fraudsters: Final thoughts from MRC

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  • E-commerce Payments Technology 

Last week at the annual Merchant Risk Conference in Las Vegas, I rubbed elbows with representatives from dozens of card-not-present merchants all tasked with one, unifying mission: outsmarting the specific fraud attacks that assail their businesses. One can learn a lot by staying quiet and just listening to the fascinating insights these fraud-fighters bring from the trenches. Not surprisingly, I heard many of the same lessons offered up in-person that we’ve shared on this blog in our re...Read More

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