Registration of a store or network card
Posted: Tue Feb 11, 2025 4:01 am
Fraudsters have reached a new level
Today, no retail company can do without a loyalty program. Most often, for the buyer, it includes the following:
the ability to earn points as a percentage of the cost or total amount of the purchase;
using accumulated points to receive a discount on a product or to partially pay for it;
purchasing goods at a discount greater than that of customers without loyalty cards, and so on.
The business gets a loyal customer interested in the movement of goods, and the consumer gets the opportunity to purchase goods at a lower price outside of discounts and promotions.
According to internal security officers, loyalty card fraud is one of the leading abuses among retail employees. According to experts, retailers lose about 2% of their revenue annually due to various types of cambodia whatsapp data customer loyalty cards.
Loyalty points accumulated in loyalty programs are an attractive target for fraudsters, who can use these points to purchase tickets or other goods and then resell them to others. Unsuspecting buyers then risk being denied boarding or having their purchase confiscated if the fraud is discovered. Criminals also often purchase accumulated points and use the compromised accounts to launder money.
All of this points to the need for loyalty program providers to take a more rigorous approach to security to ensure they are providing their services to legitimate users, such as by using multi-factor authentication in their mobile and other solutions.
Today, no retail company can do without a loyalty program. Most often, for the buyer, it includes the following:
the ability to earn points as a percentage of the cost or total amount of the purchase;
using accumulated points to receive a discount on a product or to partially pay for it;
purchasing goods at a discount greater than that of customers without loyalty cards, and so on.
The business gets a loyal customer interested in the movement of goods, and the consumer gets the opportunity to purchase goods at a lower price outside of discounts and promotions.
According to internal security officers, loyalty card fraud is one of the leading abuses among retail employees. According to experts, retailers lose about 2% of their revenue annually due to various types of cambodia whatsapp data customer loyalty cards.
Loyalty points accumulated in loyalty programs are an attractive target for fraudsters, who can use these points to purchase tickets or other goods and then resell them to others. Unsuspecting buyers then risk being denied boarding or having their purchase confiscated if the fraud is discovered. Criminals also often purchase accumulated points and use the compromised accounts to launder money.
All of this points to the need for loyalty program providers to take a more rigorous approach to security to ensure they are providing their services to legitimate users, such as by using multi-factor authentication in their mobile and other solutions.