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As more merchants master the art of omnichannel retailing, they benefit from a new phenomenon called 'reverse retailing,' or intentional showrooming. However, this has led to an increase in online security problems.
Eataly's retail location in New York City has reported a possible data breach in its POS system. The company's website warns consumers of the potential security incident, urging consumers who purchased items between Jan. 16 and April 2 at the New York City location to immediately check their bank accounts. "Based upon an extensive forensic investigation, it appears that criminals unscrupulously hacked our network system and installed a malware designed to capture payment card transaction data," according to a company statement. An investigation was officially launched after several Eataly employees, who also made purchases at the store, found fraudulent charges on their credit cards, PYMNTS reported. The malware has now been removed and security measures are in place.
There is good news coming for U.S. retailers in the fight against counterfeit payment card fraud. EMV chip technology is heading to U.S. markets. While this technology implemented in European and Canadian markets drastically reduces face-to-face fraud, it's important to note that is not a cure-all.
While many retailers are under the gun for the EMV liability shift deadline in October, there's an earlier cutoff on June 30 that may be just as important to meet: five mandatory changes in compliance for the Payment Card Industry Data Security Standard version 3.0.