Javelin Finds Retailers Embrace Social media to Enhance In-Store shopping Experience
San Francisco, CA, January 23, 2014: Social networks have become an additional arm of payments and retail, rather than just a virtual place for individuals to socialize. Today, Javelin Strategy & Research (@JavelinStrategy) released the Social Media Payments: Redefining Shopping for a New Era report, which explores the growth of social networks and the changes to retail shopping, consumer behavior, and payment transactions. It also examines the demographics of social shoppers, their attitudes toward payment and alternative payment means, and brands they trust when making purchases on social networks.
Sixty-two million adults have purchased on a social network in the past 12 months. Surprisingly, the most likely purchase made on a social network is not a virtual or digital item but actually a physical item like clothing, shoes, electronics, etc. Yet social networks might not be ready to fill in for Amazon or eBay in the immediate future, but social-network sites are beginning...
San Francisco, CA, January 22, 2014: The results of Javelin Strategy & Research (@JavelinStrategy) recent study of credit card issuers' security show that Bank of America, USAA and Wells Fargo are topping all competitors in prevention, detection and resolution. Javelin's ninth annual credit card issuers' study scores 24 of the nation's top credit card issuers – providing credit card issuers with insight into recent fraud trends, and ways they can improve their security posture.
Card fraud is highly pervasive. Affecting 7.5 million Americans in 2012, total card fraud losses reached almost $8 billion in 2012. Credit card accounts were the most common account takeover target, affecting 36% of consumers who experienced account takeover in 2012. The scorecard analyzes the security features of the nation's top credit card issuers using Javelin's Prevention, Detection, and Resolution Model™, which has become an important tool for issuers in thwarting fraudsters.
"Retailers, common targets for data breach crimes, scored lowest in Prevention and among the lowest overall. The three retailer issuers reviewed placed lowest in Prevention...
San Francisco, CA, December 17, 2013: The results of Javelin Strategy & Research's annual Mobile Banking Vendor Scorecard show that FIS, Monitise and Fiserv are outperforming all competitors with mobile banking solutions. Javelin's fourth annual Mobile Banking Vendor Scorecard evaluates vendors' solutions—standard out-of-the-box and customizable—to assess critical categories of features and functionality that will drive mobile banking adoption among consumers.
At long last, 100% of the top 25 retail financial institutions offer downloadable mobile banking applications, up from 84% in 2010. With mobile banking usage on the rise, vendors have a strong case to present to financial institutions still skeptical on the value of investing in the channel. As adoption rises, financial institutions with strong mobile banking capabilities will find themselves increasingly appealing to the growing base of smartphone owners.
Financial institutions need to adopt a strategic plan for mobile banking," according to Mary Monahan, Research Director of Mobile at Javelin...