With acceptance of mobile and other new forms of payments expected to double in the next two years, a new global study shows a critical need for organizations to improve their payment data security practices.
An independent survey of online shopping trends found that 90 percent of participants think that passwords provide little or no security, yet they are still the main way people access their accounts.
Shrink, comprised of shoplifting, employee or supplier fraud, and administrative errors, rose in the U.S. from 1.28 percent of sales in 2013-2014 to 1.97 percent during 2014-2015.
The National Retail Federation said it agreed with a warning from the FBI that new chip-based credit cards are safer than traditional cards but still vulnerable to fraud and need to be used with a PIN to minimize risk.