Banking while browsing: The e-commerce solution
Digital security will be one of the biggest trends of 2017. The challenge at the heart of the dialogue? The pace of technology development – and cyber vulnerabilities – are increasing a rate much faster than protective measures can keep up.
The e-commerce sector, as one example, demonstrates the rapid proliferation of online transactions, with many happening across international borders. Customers may be making purchases from a store, from anywhere in the world. Meanwhile, Hackers are constantly on the hunt for new security exploits and opportunities to wreak havoc.
How can the banking sector stay ahead of the curve to ensure that consumers remain protected when engaging in commerce online – especially when they may be sharing sensitive information or likely to be caught with a phishing request off-guard.
The banking world increasingly revolves around being digital. Here’s how they can keep up with consumer demand, while creating a more secure shopping environment.
Create more personalized products
Mike Landau who leads Payments Research at PwC aims to understand the drivers of innovation and anticipate the impacts of these changes on consumers, payments providers, and retailers. One trend that Landau has observed is the rise of retailers needing to balance conflicting priorities in the creation of checkout experiences.
“Such considerations include collecting more user data through a mandatory site login prompt, paying higher fees to provide one-click checkout buttons from third parties, or storing card credentials to improve repeat-customer experience.”
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