Global payment card fraud up nearly 15%, study finds
CARPINTERIA, Calif. — Global losses from credit, debit and prepaid card fraud reached $11.27 billion, an increase of 14.6% over the year before, according to a new report.
According to The Nilson Report, a payment industry newsletter, card issuers accounted for 63% of the losses, while merchants accounted for the rest. Of the total, $5.33 billion of the losses occurred in the United States, a 14.5% increase over 2011; card issuers accounted for 64% of losses, while merchants accounted for 36%. Overall, the United States accounted for 47.3% of global card fraud losses, but generated only 23.5% of total volume. According to the report, the disparity is due to the United States having the lowest percentage of cash as a percent of total volume in the world, with exception to Canada; the absence of EMV cards, which have special chip technology on the card, also contributes to losses.
"Adoption of EMV at the point of sale is the strongest defense against counterfeit cards," Nilson Report publisher David Robertson said. "EMV adoption would not only help U.S. issuers, but also issuers in other parts of the world that continue to put mag-stripes on their cards to accommodate POS terminals in the United States. Fraudsters are willingly paying a premium for stolen mag-stripe data from EMV card countries in order to create counterfeit cards for use in the United States."
The global brand cards — Visa, MasterCard, American Express, UnionPay, Diners Club and JCB — averaged fraud losses of about 6 cents per $100 in total volume.
Wholly Guacamole introduces new miniature dipping cup
FORT WORTH, Texas — Wholly Guacamole, a company specializing in premade refrigerated guacamole, announced today the addition of new miniature dipping cups to its line of products.
The new Wholly Guacamole Mini is an easy-to-open snack cup designed for dipping. They come in 2-oz. containers and contain only 100 calories each.
The Minis will appear on grocery store shelves everywhere by mid-August and are available in four different flavors: Classic, Spicy, Avocado Ranch and Chunky Avocado. Consumers can purchase the Minis in either a 4- or 6-pack product size. The 4-count suggested retail price is between $3.99-4.99, and the 6-count is $5.29 – 5.99. Like all Wholly Guacamole® products, the Minis are all natural, gluten free, with no preservatives and kosher certified, making them the perfect substitute for mayonnaise and ranch dressing.
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Gigwalk develops new Android app for mobile workforce
SAN FRANCISCO — Gigwalk, an on-demand mobile workforce, has announced the launch of its Android app in North America and the United Kingdom, making Gigwalk the first mobile-centric marketplace for temporary work to have both an iPhone and Android app.
The Android app is expected to double Gigwalk’s current user base of more than 325,000 workers. The launch comes on the heels of the company’s 300% year-over-year revenue surge reached in June. The demand for Gigwalk now spans Fortune 1000 customers, including Reckitt Benckiser, BMW, 7-Eleven, eBay, AIG, Chartis, and others, the company stated.
Gigwalk noted that the latest comScore report revealed that 52% of U.S. smartphone consumers own Android devices versus 39.9% who own iPhones.
"In order for Gigwalk to achieve our goal of building the largest and most-effective smartphone army in the world, we must tap into talent that lives across multiple mobile platforms," stated Matt Crampton, founder and CTO for Gigwalk. "While this news positively impacts thousands of potential new Gigwalkers and creates meaningful jobs, it also gives us increased bandwidth for a higher amount of customers, coverage, speed and completion rates."
The app’s functionality is similar to the iPhone app. For Gigwalkers, they log onto the app and instantly see available gigs in their area. Once they begin working on gigs, the app tracks completed and pending gigs. For businesses, the app connects into Gigwalk’s back-end engine that matches the best worker with each gig. Businesses can also access Gigwalk’s reporting dashboard that allows them to view real-time metrics and insights on every job execution.
Businesses can post gigs such as store audits, retail merchandising, field photography, in-store demos, stockroom work, customer surveys and more through Gigwalk.com.