In the news, studies show consumers view transactions with retailers differently since recent high-profile data breaches, and Kentucky passed legislation for new data breach notifications. Also, biometrics are emerging as a part of payment solutions.
Retail Breaches Change Consumer Perceptions
Integrated Solutions For Retailers reports two studies both concluded customers view shopping differently after recent high-profile retail data breaches. The first study, National Consumer League's Data Insecurity Report, found that consumers are increasingly blaming retailers for the compromise of their credit card data and are responding by changing the stores they patronize. The second study, Security Matters: Americans on EMV Chip Cards, indicates that nearly two thirds of Americans are more likely to pay in cash after hearing about security breaches at large retailers, with younger respondents being much more likely to play in cash than their older counterparts.
Kentucky Passes New Laws For Data Breach Notification
Kentucky has passed legislation that includes new notification policies so citizens receive timely notice if credit card or other sensitive data is stolen. House Bill 5 and House Bill 232, signed last month by Kentucky Gov. Steve Beshear, require agencies that have experienced a data breach to alert the Kentucky State Police, auditor of public accounts, attorney general, and other agencies, depending on the public entity involved. A time period to alert individuals affected by the breach is not mandated.
Biometrics Emerging In Payment Solutions
Following PayPal’s introduction of fingerprint authentication for payment on the Samsung Galaxy S5 and the Samsung Tab S, Business Solutions looks at where biometrics in payment might go next. Groupement des Cartes Bancaires CB, the French bank card association that pioneered the use of chip cards for payments in the 1980s and Visa Europe both show interest in the technology.
Smartphone, Tablet Search Spending Now About The Same
A new report shows that the growth of search spending on smartphones outpaced growth on tablets by more than three to one. The amount of search spending is now about equal on the two types of devices. The quarterly report, released by IgnitionOne, looks at the search spending trends among marketers in the United States, tracking more than 106 billion impressions and more than 3.2 billion clicks in the reports.
Retail IT Talking Points
A new benchmark report from RSR Research shows the state of brick-and-mortar retailers and what is necessary to rejuvenate the in-store experience. The study found that while showrooming and omni-channel pressures dominate media conversations, fundamental and traditional pressures are at the top of store-based issues, including things like consistency across stores in a chain, working within a fixed budget, and the fact that consumer price sensitivity continues to rise. RSR Research’s studies have shown that winning retailers focus on training employees, reducing reaction times, and managing costs, rather than focusing on getting and retaining customers.
For more news and insights, visit BSMinfo’s Retail IT Tech Center.