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Feedzai develops fraud apps for Shopify, Big Commerce platforms

BY Dan Berthiaume

San Mateo, Calif. – Feedzai, a data science company that uses real-time, machine-based learning to analyze Big Data to prevent fraud, has developed e-commerce apps for the Shopify and Big Commerce platforms. The Feedzai apps on Shopify and Big Commerce provide online retailers with real-time information to determine the legitimacy of an order.

Users of the app see transactions flagged for suspected fraud. Retailers can then dive deeper to see a list of reasons to block or allow the transaction, allowing them to decide which transactions to accept or decline. Retailers have access to the same bank-grade risk engine used by payment networks and financial institutions.

The new Feedzai apps feature behavioral analysis, IP geo-location, device ID recognition, and disposable emails, among other criteria, to determine the risk associated with each sales order. A simple user interface scores each order in real-time and provides a list of human-friendly reasons to block or allow a transaction, helping retailers to decide to accept or reject an order.

In addition, street-level maps show the location of the IP address from which the transaction was created, which is cross-checked with the shipping address. Email reports detail the transaction summary for a set time period (day, week, etc.). Users can get up and running by installing the Feedzai app.

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Former president of ESPN joins Under Armour board

BY Staff Writer

Baltimore — Under Armour announced that George W. Bodenheimer, former president of sports network and entertainment company ESPN has joined the company's board of directors.

Bodenheimer is an ESPN and cable industry pioneer, having served as the company's longest-tenured President from 1998 to 2012, during which time he led an unprecedented period of global growth. He most recently served as executive chairman of ESPN, before retiring from the company in May 2014.

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Target issues preliminary Q2 update

BY CSA STAFF

Just a few days after naming a new CEO, Target issued a preliminary update on its second-quarter expenses related, in part, to the December 2013 data breach.

The company’s financial results are expected to include gross expenses of $148 million, partially offset by a $38 million insurance receivable, related to the breach. These expenses include an increase to the accrual for estimated probable losses for what the company believes to be the vast majority of actual and potential breach-related claims, including claims by payment card networks.

“Since the data breach last December, we have been focused on providing clarity on the company’s estimated financial exposure to breach-related claims,” said John Mulligan, interim president and CEO, CFO. “With the benefit of additional information, we believe that today is an appropriate time to provide greater clarity on this topic.”

The environment in the U.S. and Canada continues to be challenging for Target. Mulligan added that results aren’t yet where they need to be, but was optimistic about the company’s progress, particularly in its efforts to drive U.S. traffic and sales, improve its Canadian operations and advance its digital transformation.

“With last week’s announcement that the board has chosen Brian Cornell as Target’s next chairman and CEO, we are excited to welcome Brian to the team and committed to working together to accelerate Target’s transformation and become a leading omnichannel retailer,” Mulligan said.

The company now anticipates its second quarter 2014 adjusted earnings per share (EPS) will be within a range around $0.78, compared with prior guidance of $0.85 to $1.00 per share, reflecting flat comparable sales in its U.S. segment, with lower-than-expected EBITDA margin driven by promotional markdowns, as guests continue to spend cautiously and focus on value in the current environment; as well as softer-than-expected sales in its Canadian segment, combined with the impact of continued investments to clear excess inventory.

The company will provide complete second-quarter results August 20.

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