Study: Most consumers believe their payment data is at risk
Consumers across the globe agree that the volume of criminals trying to steal their credit and debit card data is increasing — and retailers aren’t equipped to fight back.
This was according to “Consumer Payment Card Data Security Perceptions, from Transaction Network Services (TNS). The study interviewed 1,037 U.S. adults, 1,002 Australian adults, and 1,010 U.K. adults between May 4-8.
Eighty five percent of adults in the United States, United Kingdom and Australia believe there are more cyber-criminals just waiting to grab their payment card data. More than two-thirds are concerned about the security of their payment card data, and 38% feel their private credit or debit card data has been put at risk by a data breach, irrelevant of whether they subsequently were a victim of fraud.
“While the payments industry has made significant advances in protection in recent years, criminals continue to find increasingly sophisticated ways to target valuable payment card data,” said Lisa Shipley, executive VP and managing director of TNS’ Payment Network Solutions. “One in five respondents in our survey confirmed their credit or debit card data had been used fraudulently in the last two years, so this highlights that we must continue to drive forward with new security measures.”
One of these solutions is encryption. A majority of consumers are in favor of the security measure, with 74% saying they believe this would securely protect their personal data.
“Our survey unveils high levels of concern about the security of payment card data and strong feelings among consumers that banks, retailers and other organizations involved in the payment card industry need to do more to protect their personal data,” Shipley added.
Amazon’s fulfillment arm will pay full price to bolster global inventory
Amazon is making its marketplace sellers an offer that is hard to refuse.
The online giant’s Fulfillment by Amazon (FBA) division is rolling out a new program that will buy products from third-party merchants at full price, then sell them to consumers across the globe. The program is a move to build Amazon’s global inventory, according to CNBC.
According to an email shared with CNBC, Amazon said, “For a limited time, there will be no additional fees, and we will purchase inventory from you at your local marketplace offer price.”
Amazon contacted thousands of third-party retailers via e-mail inviting them to take part in the new program. While Amazon would take a loss on profits, the online giant expects the program to boost delivery efficiency.
The new program follows a similar rollout in Europe, according to the report.
With FBA, merchants pay a fee to have their inventory stored in Amazon's fulfillment centers, and utilize the company's supply chain and shipping operations. In 2016, FBA delivered more than 2 billion items worldwide, and active sellers worldwide using the FBA service grew more than 70%, according to Amazon.
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Office supplies giant adds robotics to fulfillment network
Staples is making a bold move to modernize its supply chain.
The office supplies giant is adding a robotic material handling solution across its network of fulfillment centers. Designed by Great Star Industrial USA, LLC, the automated robotic storage and retrieval system incorporates two types of automated guided vehicles (AGVs) into a unified system that brings both high and low cubic velocity items to a single pick and pack station.
This technology is called the first to combine these separate solutions into an integrated system. The flexibility of this integrated solution requires less capital investment than traditional material handling systems, and is designed to increase productivity and picking accuracy.
The AGV used for picking items with a low cubic velocity is adaptable to pick from existing industry wide storage mediums. It can retrieve up to five unique items per trip, lowering capital and drastically reducing robot tasks and travel.
Items with high cubic velocity are picked with AGVs that replace tradi-tional manual pick carts. The new system enables pick cells to be fed by multiple AGV’s simultaneously, eliminating idle time for the order pick-er. AGVs can place products directly into the pick cell and then leave for other tasks, increasing AGV utilization, according to the retailer.
“With Staples and Great Star each leveraging their strengths in design, engineering, and supply chain operations, we’ve rapidly gone from con-cept to production with a robotic solution,” said Mike Bhaskaran, Staples’ chief supply chain officer. “It incorporates concepts that have never been used before. In addition to rolling it out across the Staples’ network of fulfillment centers, we’re excited for its potential applications beyond these facilities.”
Staples has already started to utilize the new system in one of its key ful-fillment centers. The solution will be implemented across the entire net-work over the next 24 months, according to the retailer.