News

Why 'Flash Boys' and pricing complexity matter to retailers

Michael Lewis's new book, "Flash Boys, A Wall Street Revolt" is a great read and certainly helps explain why Wall Street has seemed so finicky over the past few years with erratic, unexplained ups and downs getting way too common.

Heartbleed is the new security risk

There's yet another security nightmare staring down retailers as the Heartbleed bug threatens to expose encrypted data in OpenSSL.

Are eBay and PayPal better together? Icahn says no

EBay is addressing a move by activist investor Carl Icahn to spin off PayPal by issuing what amounts to a love letter to shareholders, extolling the virtues of the symbiotic relationship.

Kroger unveils RSI for the '21st century store'

Kroger has introduced a new enterprise IT architecture called Retail Site Intelligence (RSI), that essentially creates a "21st century store."

Meijer testing hybrid self-checkout

Just when you thought self-checkout was dead, a hybrid version rears its head as Meijer joins the ranks of retailers looking to implement a new form of the technology.

IAITAM and EY team up for new vendor neutral assessment tool

The International Association of IT Asset Managers (IAITAM) has teamed up with Ernst & Young to create the IT Asset Management Organizational Certification.

Sam's Club boots Discover, partners with MasterCard

Discover is out and MasterCard is in at Sam's Club. The retailer has finalized a multi-year agreement with GE Capital Retail Bank to manage its co-branded credit cards in the U.S. and Puerto Rico.

What retailers need to know about reducing fraud with EMV chip and PCI standards

As evidenced by recent high-profile breach incidents, keeping payment data secure in today's world is an increasingly complex challenge. While EMV chip solves one part of the problem, there's no single solution that addresses all security challenges.

B2B firms not ready for digital future

A majority of B2B executives are concerned about their companies' digital prowess in the near future, according to a new Forrester Research survey. Only 21 percent of B2B companies said their CEOs have set "a clear vision for digital in our business." In addition, a mere 19 percent of executives surveyed said their companies have the right technology to "execute our digital strategy."

Amazon offers free payment processing to startup retailers

Amazon has certainly been promoting the heck out of its Login and Pay with Amazon service for the past few months. Now, online retailers that sign up for Login and Pay are eligible to receive free payment processing for transactions made through Amazon Payments, up to $10,000 in one year.

Square furthers Bitcoin retail adoption

While naysayers continue to cast doubt on retailers' adoption of Bitcoin digital currency, Square's move to support Bitcoin may change all that. This week, Square partnered with CoinBase to accept bitcoins via the company's online storefront.

Chase won't process condom retailer's card payments

It seems far-fetched that a bank would refuse a retailer's business, but that is exactly what happened in the case of Lovability, an online retailer of condoms.

In mid-March, a division of JPMorgan Chase rejected an application to process payments for Lovability, citing "reputational risk" associated with "adult" products. After some bad press, however, a representative from Chase's marketing department said the company will reverse its decision.

Why credit card fees must be slashed

Walmart's recent lawsuit against Visa for $5 billion, accusing the credit and debit card network of excessively high card swipe fees, is just the latest example of an extremely flawed system that is unfair to retailers and shoppers.

Target catches a break in data breach lawsuit

While Target executives would love to be able to pin the retailer's massive card data breach on IT vendors, it may not be able to do so.

RILA: Asset Protection Conference focuses on organized retail crime

The Retail Industry Leaders Association is getting ready to fight crime, cyber- and organized retail crime, as the industry gathers for RILA's Retail Asset Protection Conference in Indianapolis. The event will take a deep dive into hot button topics including cyber security, shrink and injury prevention with a big focus on organized retail crime.

"The organized retail crime push is very exciting for us," said Garth Gasse, RILA director, asset protection. There will be sessions specific to surveillance and counter intelligence efforts.

According to Gasse, in order to fight organized retail crime, the industry has to work backward, to get wholesalers to stop participating and small-store owners to stop selling stolen merchandise. "It's a battle we fight every day," he said. "RILA sees an opportunity to get involved to really help fight through collaboration."

Amazon Prime price hike could ease supply chain pressure

Amazon looks to be revamping its delivery system, possibly funding it with higher Amazon Prime membership fees. The initiative could ease supply chain pressure and help eliminate shipping delays heading into the holiday season.

Amazon is focused on its top 40 markets, or roughly half the U.S. population, and building out a private delivery fleet, according DC Velocity. The effort is meant to support the growing Amazon Fresh online grocery service and alleviate the clogged shipping schedules as holiday online shopping grows.

Best Buy, 7-Eleven disable NFC

NFC took another hit this week as Best Buy and 7-Eleven began removing the capability to accept payments at POS terminals throughout their store network.

Adobe partners with SAP to make sense of 'big data'

Adobe's new partnership with SAP, announced at the annual Adobe Summit Wednesday, integrates Adobe Marketing Cloud with the SAP HANA platform and the hybris Commerce Suite, according to FierceRetailIT's sister publication, FierceCMO.