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Visa risk manager rescues small retailer from credit card fraud
This article is part of the CIO Decisions issue of December 2014/January 2015, Vol. 38
Two years ago Kari Bernardo was a program manager in Visa's risk acceptance group when Speck Products came to her attention. The small San Mateo, Calif.-based online retailer was struggling with online credit card fraud, bouncing in and out of Visa's excessive chargeback programs. More alarming, the retailer, which makes stylish protective cases for electronic devices, had no systems in place to stop the fraud. That's when Bernardo decided to become Speck's e-commerce risk manager. "I took it as, there could be something I could fix for them," she said. Bernardo's first order of business was putting in security tools, but like Goldilocks, she found that getting just the right solution proved challenging. Some software tools were geared to mom-and-pop operations and insufficient to handle Speck's volume of business, she said. The company recorded net sales in 2013 of $104.8 million. Other tools were designed for large corporations. One contender was simply too new at the time to trust. "The main thing was cost," Bernardo said. ...
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Features in this issue
The customer is already multichannel. Companies -- and CIOs -- are scrambling to catch up. It won't be easy.
Finding the right software tools to combat credit card fraud can save small businesses tens of thousands of dollars. Having a seasoned fraud specialist at the helm also helps. Just ask Speck Products.
News in this issue
What separates the high earners from the low earners among senior IT executives? The ability to negotiate a bonus helps, according to the 2014 TechTarget IT Salary and Careers Survey.
Chief data officers from Nationwide Insurance, KeyBank and Seattle Children's Hospital reveal the pivotal role the CIO played in developing their positions.
Columns in this issue
Is there a 'd-i' missing from the middle of the IoT acronym? Read on for IT and business strategist Harvey Koeppel's humorous take on the meaning and disruptive nature of the Internet of Things and the 10 things CIOs can do to prepare for the IoT.
Interactions with brands across many avenues are now the norm for consumers. Enterprises looking to capitalize must get their multichannel customer engagement strategies in order.