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24/06/2010 -
As online shopping grows in popularity, retailers are working to manage, locate and safely store customer account information. A new RSA study suggests that online retailers should consider hiring payment services providers to help combat online fraud. Merchant services, the report says, would not only improve security operations, but save retailers time by reducing operational complexity.
285 million credit card payments were affected by fraud in 2008, writes the Verizon 2009 Data Breach Investigations Report.
"This new generation of outsourced secure payment card services will provide a way for merchants to track and use payment card data that is vastly superior to keeping actual card numbers within the enterprise," Sam Curry, chief technologist at RSA and one of the report's authors, told ZDnet.
Online sales are currently $134.9 billion or 8 percent of equivalent retail sales, Internet Retailer estimates. Furthermore, "e-retail" is predicted to grow five times as fast as traditional sales, increasing from $68 billion to $624.17 billion in 2020, Goldman Sachs predicts.
