Security Challenges for the Retail Payments - Mobiloitte

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Security Challenges for the Retail Payments
Apped in Mobiloitte
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Security Challenges for the Retail Payments
The E-commerce and M-commerce has made payment a
crucial aspect to accompany online shopping,
making security, one of the major concern in the
retail industry. In order to attract more users,
establishing a superior customer experience is an
essential target to be achieved by merchants.
They need to ensure that the final step of
payment is just as smooth and secured. Today's
omni-channel customers expect a seamless secure
checkout across multiple touch points, including
e commerce, smartphones, tablets and cashless
in-store payment platforms.
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Challenges

• The retailers industry needs to tighten up their
  security, and thus it has become mandatory for
  small retailers to establish security to hold
  their potential customer. Also, there is concern
  for evaluation of payment innovations.
• Satisfy customer demand
• Minimize complexity across the payments
  ecosystem.
• Meet security, privacy and regulatory
  requirements.

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Why security is important?

• Weak payments can derail sale, hence security
  should be the foremost concern for retail
  industry.
• Security maintain loyalty among customers, else
  it can hurt long-term customer loyalty, forcing
  them to shift competitors
• With complete security, controlling the rising
  fraud is easy.

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Types of payment mode

• It is quite important for retailers to
  understand that payment security and customer
  data security must go hand in hand. Smaller
  retailers see payments as a way to be perceived
  as innovative by consumers.
• Digital Gift Card
• Plastic Gift Card
• Credit card
• International Payments
• PayPal
• Electronic Checks
• E-Wallet
• PSP- Payment service Provider

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Retail Security Trends (Forrester Report)

1. Nearly one in three retailers have already
   suffered revenue losses as a result of a
   cyberattack
2. Just 52 of retail organizations consider their
   security infrastructure up-to-date and upgraded
   with the best technology tools.
3. Only 61 retail companies strongly agree that
   they are able to maintain full compliance with
   payment card industry (PCI) security standards.

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Internet of Things security threats
In this technological era where iOT is on peak,
innovations like smart shelves, merchandise
trackers and perishable goods sensors are gaining
popularity. Whereas these are prone to DDoS
attacks targeting IoT devices to escalate in 2017
and beyond. As per research firm Forrester, half
a million IoT devices will be compromised this
year alone.
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How to check IoT security threats

• There is a great need for overall implementation
  of infrastructure policy on IoT devices, in order
  to address potential security issues. Retailers
  should take in serious charge to work close with
  IoT manufacturer partners, and learn how to makes
  devices secure throughout the product lifecycle.
• What we do
• Security Expertise
• Online Reporting
• Integrate Gateway with Ease for Online Payments

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Conclusion
Securing your payments systems is very similar to
securing any other asset in the physical/digital
world there are constant challenges in the form
of threats, Furthermore the number of entities
and systems involved in the payment ecosystem
also means that there are multiple weak links
potentially open to exploits. Hacking,
vulnerability exploits, penetration, code
injection, denial of service all scary words
when it comes to the digital world and when it
comes to the online payment ecosystem this could
also mean huge financial and reputation impact.
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Why Mobiloitte

• Integrate with major POS systems across store
  locations
• Enjoy expert advice to help you choose the right
  payment solution
• Accept payments across multiple channels
  including online, via mobile app and in person
• Streamline back-office operations and enjoy fast
  access to funds

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Engagement Model

• We believe in streamline day-to-day,
  engagement-level communications, to ensure trust
  of our client with quick and easy management and
  pioneer services. At Mobiloitte, we leverage
  collective experience, expertise and relationship
  intelligence to enhance client service and
  business development.
• Turn Key Projects
• Strategic Planning
• We ensure the organisation strategy that is
  formulated to drive current and future
  technology, propelling the project growth.
• Business planning
• We formulate tactical and operational objectives
  for the given period of the project and achieve
  value from technology and investment.

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• Modular Approach on Existing
• Managed Sourcing
• We offer a service mix of competency checks,
  technical skills and background enhancement to
  this business segment.
• Offshore Development Center
• Outsourcing your development and CMS needs to our
  ODC ensures you two things one, industry leading
  software development and two, all this at a
  fraction of the cost that you would normally
  incur on self managed IT teams.
• Fixed Bid Model
• A fixed sum of monetary benefit is guaranteed to
  the software or content vendor for delivering
  solutions once the client is satisfied. It runs
  on standard IT operational procedures and carries
  out periodic reviews for the clients perusal.

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