Security Challenges for the Retail Payments - Mobiloitte

1. Security Challenges for the Retail Payments Apped in Mobiloitte

2. 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. sales@mobiloitte.com | www.mobiloitte.com INDIA | USA | UK | SINGAPORE

3. 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. sales@mobiloitte.com | www.mobiloitte.com INDIA | USA | UK | SINGAPORE

4. 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. sales@mobiloitte.com | www.mobiloitte.com INDIA | USA | UK | SINGAPORE

5. 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 sales@mobiloitte.com | www.mobiloitte.com INDIA | USA | UK | SINGAPORE

6. Retail Security Trends (Forrester Report) • Nearly one in three retailers have already suffered revenue losses as a result of a cyberattack • Just 52% of retail organizations consider their security infrastructure up-to-date and upgraded with the best technology tools. • Only 61% retail companies strongly agree that they are able to maintain full compliance with payment card industry (PCI) security standards. sales@mobiloitte.com | www.mobiloitte.com INDIA | USA | UK | SINGAPORE

7. 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. sales@mobiloitte.com | www.mobiloitte.com INDIA | USA | UK | SINGAPORE

8. 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 sales@mobiloitte.com | www.mobiloitte.com INDIA | USA | UK | SINGAPORE

9. 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. sales@mobiloitte.com | www.mobiloitte.com INDIA | USA | UK | SINGAPORE

10. 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 sales@mobiloitte.com | www.mobiloitte.com INDIA | USA | UK | SINGAPORE

11. 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. sales@mobiloitte.com | www.mobiloitte.com INDIA | USA | UK | SINGAPORE

12. 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 client’s perusal. sales@mobiloitte.com | www.mobiloitte.com INDIA | USA | UK | SINGAPORE

13. sales@mobiloitte.com | www.mobiloitte.com INDIA | USA | UK | SINGAPORE