Innovation Key to Future of Online Retail; Interview with One Kings Lane CEO, Doug Mack. Only 26% of Consumers Think Facebook Storefronts Secure Against Fraud [STUDY] MasterCard to release e-commerce anti-fraud tool. March 28, 2012 MasterCard president and CEO Ajay Banga MasterCard will release an e-commerce anti-fraud product for merchants in May, said Mike Plotnick, MasterCard's communications leader. MasterCard announced the product at the Merchant Risk Council show in Las Vegas. The solution is designed for global merchants to assess transactions on U.S. -issued cards. Expert Monitoring Solutions Fraud Scoring for Merchants is designed to measure the likelihood of a fraudulent online transaction in real time using algorithms “specifically for eCommerce merchants.”
These models leverage a greater amount of customer transaction history to create a more accurate fraud score, said MasterCard in a statement. MasterCard's new product, which Plotnick says will have a flat rather than subscription-based fee, is an expansion of Expert Monitoring Solutions Fraud Scoring, released in 2010. Security Concerns Hampering Social Commerce. More than one-half (55%) of social media users in the US say they are uncomfortable sharing credit card information with a known brand via secure payment on a social networking site such as Twitter or Facebook, according to a new survey from Digitas. Moreover, women, who tend to outnumber men on most social networks, are more likely than men to say they are uncomfortable handing over credit card information (60% vs. 51%) in order to complete transactions on social sites.
However, 45% of all surveyed social media users say they would be at least somewhat comfortable sharing their credit card information. Among those 45% of users: Those age 18-54 are more likely than their older counterparts (age 54+) to say they are at least somewhat comfortable sharing their credit card information, 49% vs. 35%. Below, additional findings from the Digitas survey of US social media users, conducted by Harris Interactive.
Accessing Social Sites via Mobile Friend Recommendations Beat Likes. Would You Like to Pay by Cash, Credit Card or Twitter?