Web Ecommerce Solutions

    

Ecommerce Fraud Prevention Reaching New Heights through MasterCard Initiatives

It has been predicted that US online shopping will grow at a steady rate of 10% every year, and by the year 2014 it would be 8% of the entire retail sales that happens that year in the country.

It has also been predicted that ecommerce in the European region will steadily grow at a rate of 11% during the same period of time. This unimaginable growth of ecommerce has brought along security concerns to all the players involved in a payment transaction. Cardholders are panicky about having their personal information compromised, and likewise are they worried if their financial transactions are indeed safe and secure. Similarly, card issuers also face the risk of ecommerce fraud and they have to bear huge costs in securing the payments. 

The MasterCard Online Authentication Service, or OAS, is a service that covers the requirements of all the participants involved in an ecommerce financial transaction. The solution allows customers to be verified by the card issuers at the online point of purchase.

MasterCard issues this solution to card issuers on a turnkey hosted service basis and through participation in programs such as MasterCard SecureCode and Verified by Visa. Thus issuers of MasterCard, Maestro, and Visa can use the facilities of MasterCard for their ecommerce fraud prevention measures, and spend minimally on their internal resources.

OAS ensures that the issuer satisfies the highest online security standards set by the financial industry. One of the strongest features of OAS is Expert Monitoring Fraud Scoring. This feature uses a combination of scoring, modeling, rules, and event management tools to predict a fraudulent transaction during the authentication process. The scoring system uses the Expert Monitoring Fraud Models to generate a predictive score when the authorization is in progress in real-time. The value of the score is indicative of whether the transaction is fraudulent or genuine, making the platform the ideal security system for ecommerce.

The security model used for fraud detection takes into consideration data on a global perspective, including:

  • Geographical models like region, country, etc,
  • Transaction type like whether ATM, ecommerce, debit, and so on
  • Product models like corporate, consumer, etc,
  • Proprietary like standard, affluent, etc.

Expert Monitoring Fraud Scoring uses the fraud models to predict the risk a particular ecommerce transaction after analyzing the spending patterns. The system uses a combination of Artificial Intelligence, a technology known as Smart-Agents, and a set of business rules to detect fraud patterns in an effective and quick way. The system continually learns and teaches itself new and evolving fraud patterns for future fraud detection.

This system was developed using the huge repository MasterCard has of globally integrated authorization and fraud data. The system relies extensively on the Network Fraud Models for evaluating risks across geography, transaction type, and products. Likewise, it uses Custom Fraud Models to detect risks using specific data within proprietary portfolios.

Thus, Expert Monitoring Fraud Scoring delivers an increased accuracy in fraud detection. It also smartly decreases the chances of false positives by issuing predictive fraud scores for every transaction in real-time, and the issuer factors the risk of fraud based on the score value during the authorization process; this greatly strengthens the relationship between cardholders and issuing companies.

Using the system, issuers have reduced their fraud losses by almost $24 million over a 3 year time period. Ecommerce merchants can feel safe since the card issuing company has authorized the transaction as being safe.

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4 Small Business Ecommerce Tips for Starters

Over the past few years the number of Internet shoppers has steadily increased, especially lately with smartphone-friendly shopping carts. Given the massive market of potential clients, even small business retailers are turning to ecommerce solutions to sell their goods.

Because ecommerce involves the selling goods online, without the need of a business having a physical location, this shift is becoming a big game changer. Small business ecommerce solutions are becoming more affordable, and now "ma n' pop" stores are adopting web ecommerce solutions to funnel both local and visitor sales.small business ecommerce tips for local shoppers

The advantages of small business ecommerce can be very wealthy, depending on the nature of the store. Some local businesses have rare products that many non-local customers have limited access to. An online store front could easily take care of location barriers. 

In addition, smartphone shopping cart compatibility could contribute to more sales. Mobile shoppers browse and comparison shop, even while on the downtown strip as they make their rounds from store to store. Local small businesses could incentive those shoppers with better prices, deals, and/or direct online purchasing.

The momentum for ecommerce, even at the local small business level, is great opportunity for many different companies. Below we offer some small business ecommerce tips to get you on your way.

Tailor Customer-Oriented Web Services

Most unsuccessful small business owners fail to truly understand their customers. As marketer or owner of a business, understanding the true nature of your target markets is key. Market awareness results in better sales solutions that will suit there styles and needs.

By understanding your market, you can better build your website to have an interface which they can relate to. Knowledge about the customers also enables more efficient online (and off-line) marketing tactics, such as search engine optimization (SEO) and Pay Per Click. These strategies involve understanding the keyword phrases that customers may using when searching for your products online.

A Seamless & Secure Online Payment System

Small business owners planning to introduce ecommerce into their businesses must make sure their system is verified by major players in the online payment industry. This enables their customers have trust in them, as this displays signs of reliability.

Stemming from the latter tip about knowing about your customers, you must understand how your customers relate to your products. In turn, this allows you as the ecommerce marketer to create the appropriate checkout flow. For low-priced products, perhaps two-to-three pages consisting of data retrieval of customer's information and confirmation order page is all you need. For pricier items, more steps in the checkout process may be needed to instill that extra feeling of security.

Use Media To Help Sell Your Goods

Strong ecommerce stores provide a number of images of their products. Some of the most powerful e-retailers also include videos has product highlight. The use of rich media to help sell your goods is wise approach. This offers greater confidence in consumers, for they now what they are getting before they opt to buy.

Ask For & Show Customer Reviews

It is also important for customers who visit you website to be allowed to provide product reviews. By allowing the clients to do this, it gives you a chance to know which products are most popular and which ones are not. Also, most customers trust reviews from fellow customers, so good reviews can result in greater sales.

Thanks for visiting the web ecommerce solutions blog. If you have any questions or comments about small business ecommerce solutions, use the comments section below.

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2 Big Ecommerce Shifts for 2012

Even though businesses are still using marketing platforms like TV, radio, and print, the effects of ecommerce are growing bigger and better. The Internet can be accessed by anyone, from any part of the world and at any time. This makes ecommerce a more convenient and efficient option for marketing and product sales for retailers.

Just like fashion and technology, ecommerce also has trends that stem from the latter examples. The underlying trends for ecommerce look bright. Small businesses to large corporate brands are able to reach out to their audiences and facilitate their buying behaviors in highly effective ways.

Today, most people tend to visit social networking sites more than any other type of website. Due to this, most of the latest trends in ecommerce have shifted focus onto these sites. In addition, the devices in which we conduct online shopping have shifted from PC's and laptops to smartphones and other PDA's. This too has been an increase focus for ecommerce companies.

There are several social sites that can be used today for ecommerce efforts; however the main one that is rating high on the ecommerce trends for 2012 is Facebook. F-commerce the next ecommerce?

WTF is F-Commerce?

F-commerce is one of the ecommerce trends for 2012 that involves conducting business over the social network site Facebook. In fact, the trend is viewed to be one of the best in future based on the majority influence that the social site has.

In fact, today, there are millions of people on Facebook and many of these individuals are sharing opinions on products and brands. Apart from just the easy access to Facebook, businesses can take advantage of various tools such as Facebook coupons and now new features that facilitate actual product purchases.

M-Commerce = Money

The act of shopping through mobile devices is another trend that is significantly picking up among consumers. In fact, in the UK alone, it is said to increase by almost 53% in the next year at a spending rate of Euro 4.5 billion. mcommerce shoppers doing their thing

In case you are one of those businessmen out there who is looking for the perfect ecommerce strategy, then M-commerce is the ideal option that you need to take. This is because, in the near future, almost everyone will be using their mobile devices like smartphones to facilitate their shopping endeavors. The only real investment is finding a mobile apps developer to design a mobile-friendly ecommerce application that meets the interests of your sales objectives.

There are more ecommerce trends for 2012 that you may also need to consider depending on the type of business that you are involved in. However, the above mentioned are some of the best that will be able to give your business the exposure that you need.

Are you curious about any ecommerce trends? Let us know in the comments section below.

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Ecommerce Expected to Thrive on the New Apple iPad3

The third generation iPad 3 offers a major step forward for ecommerce web marketers and online shoppers. 

With the iPad 3, ecommerce web marketers can take advantage of assorted features to enhance consumer interaction with ads, while helping to streamline sales funnels. On the other hand, online shoppers can enjoy a greater shopping experience with a simple and easy to use device.Ecommerce Thrives on this iPad 3

Features of the iPad 3

The iPad 3 is anticipated to be thinner and of a sleeker design compared to iPad 2. It will be endowed with a screen resolution of 2048 x 1536 and full touch screen ability. Furthermore, the iPad 3 will incorporate a pixel density of 326 pixels per inch which will facilitate for an improved retina display feature compared to its predecessor. This translates to that graphics and texts will appear smooth and clear regardless of the size. These features create perfect opportunities for both ecommerce marketers and online shoppers.

iPad 3 will also be endowed with A6 Quad-core processor making it equally powerful as a high quality desktop. It will also have an OS capable of hosting the gesture technology. This means that the iPad 3 will incorporate features like notifications, multitasking, application switching, task finishing location sound and background sound. The processor's power will also enable the user to perform more elaborated operations using the iPad 3. This creates opportunities for both the ecommerce marketers and for online shoppers.

Advantages for Ecommerce Web Marketers

For the ecommerce marketers, the improved retina display of the iPad 3 creates a good forum to place display ads on the Web and in many applications. Marketers should create compelling and attractive advertisements which will be clearly displayed through the retina display. The advertisements can be in form of photography, videos, animations and text amongst other attractive forms. The retina display will help attract more potential customers hence improving the businesses of the ecommerce marketers.

Advantages for Online Shoppers

The online shoppers should also take advantage of the clear display through improved retina display by looking up at the various products and their reviews. The clear graphics and texts will ensure that a potential customer will know exactly what they will be buying since every detail of the products will be visible. This will decrease the likely hood of online shoppers buying things without ample knowledge on the particular product.

The powerful processor and ability to host the gesture technology created opportunities for ecommerce marketers because they can use various forms of advertising and supervise them all without a hitch. For instance, an ecommerce marketer can use email marketing, display advertising, search advertising and in application advertising at the same time. This is facilitated by the iPad 3's ability to multitask using the powerful processors.

Hence the ecommerce marketer's products will reach to more people consequently improving sales. The advanced features also give online shoppers opportunities to view and compare different products while clearly viewing them and reading the relevant descriptions thus making informed choices while purchasing. Thus, iPad 3 is a big utility to both the ecommerce marketers and online shoppers.

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