The malware can be mitigated through chip-and-pin credit cards with end-to-end encryption, such as EMV cards, but today only half (52 percent) of merchants are enabled to accept chip payments, according to spring 2017 data from payment systems advisory service The Strawhecker Group.
Balance security with the user experience
The constant challenge to curtail payment fraud leaves many businesses struggling to balance security with the user experience. “Creating friction for the [bad guys] and stopping legitimate people from getting in is really difficult,” Dominguez says. “How much friction do you add to still keep you regular customers and keep out the fraudy people?” she asks.
“You shouldn’t secure yourself out of business,” Cser advises, “but continue to monitor things like enrollment rates, click-through rates, conversion rates and abandonment rates on cards. If you implement too many security measures, it’s not all good.”
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