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Retailers Slow to Adopt EMV Technology

EMV chip cards gained a lot of momentum last year, and they have the potential to virtually eliminate counterfeit credit-card fraud at the point of sale, a crime that accounts for most credit-card fraud. As of the beginning of the year, over 70% of Americans had at least one chip card in their wallet. Mobile payment applications like Apple Pay, Samsung Pay and Android Pay are becoming part of the retail landscape, yet it seems that while consumers are insisting upon...

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How Return Fraud Erodes Your Bottom Line

The National Retail Federation reported a staggering $10.9 billion loss in 2014 in retail income due to return fraud. This is based on numbers from 60 retailers surveyed. The holiday alone accounted for $3.8 billion of that amount. This is an increase of over $1 billion from last year. Much of this is caused by organized retail crime. Most retailers aren’t even aware of how prevalent this is. Roughly 38% of those polled said they’ve seen an increase in credit card fraud...

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Cutting Your Losses

One of the biggest problems retailers face when it comes to losing inventory and return on investment (ROI) is shoplifting or theft. It’s an insidious problem that can put a big dent in your bottom line. Theft can occur through employees, customers and administrative and paperwork error. A University of Florida national retail survey showed that 43% of diminished inventory is due to employee theft. This accounts for $15.5 billion in annual inventory loss! About 36% of inventory loss comes from...

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