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Articles by Ron Hynes
Fire destroys docked sailboat home at Fishing Bay Marina in Deltaville
(Note to readers: This story was relayed by Ron Hynes, who has set up a Go Fund Me account for Rusty Chrisley, his friend who lost everything in a fire on his boat.) A 72-year-old Navy veteran lost everything last week when a fire claimed his Pearson 37-foot sailboat that he was living on at Fishing Bay Marina in Deltaville. About 7:15 p.m. on Thursday, Jan. 23, Rusty Chrisley, was on his boat with his 13-year-old Pomeranian dog, “Star,” when he smelled smoke.
Vesta and Stripe Partner to Help Increase Authorizations and Safeguard Customers from Fraud
Vesta, a leading transaction guarantee platform, today announced a partnership with Stripe, a financial infrastructure platform for businesses, to enable a comprehensive fraud prevention and risk protection solution that indemnifies merchants from losses from fraudulent transactions.
Key Tips to Prevent ATO Fraud from Happening to Your Business
The chaos caused by fraud is a constant worry for online merchants, and as sales and payments become more mobile, new frontiers have emerged for fraudsters to exploit. The pandemic has only heightened this, as people across the world were obligated to remain indoors and moved their shopping fully online. Online transactions are predicted to grow 21% in 2021 and will comprise 95% of all payments by 2040, and that’s the good news.
Digital Payments and the Future of Commerce in the Next 10 Years
Data driven marketing abstract concept vector illustration. Data-driven strategy, consumer behavior analysis, digital marketing trend, campaign, user data, customer information abstract metaphor. If the last year and a half has taught us anything, it’s that digital payments are here to stay and will continue to grow as a percentage of total payments. Not only did in-person transactions decline, so too did the use of cash.
Minimizing fraud while maximizing customer satisfaction
Fraud is a serious problem and a constant source of worry for businesses across the board, but it’s particularly concerning for retailers. As operations and payments become more mobile, on-demand and digital, new frontiers have emerged for fraudsters to exploit - a prime example being online transactions. Fraud in this space is called Card-Not-Present (CNP) fraud, which occurs when a transaction is made without a physical card being used.
Cryptocurrency Security: How To Protect Your Digital Investment
Cryptocurrency security encompasses everything you need to know about the potential dangers with cryptocurrency, as well as the fundamentals of what you can do to make your setting related to your crypto investments or trades safer and safeguard your crypto assets. You should be aware that a centralized cryptocurrency service does not offer the same level of money security as a bank. Crypto brokers, for example, are not as tightly regulated, and if funds are lost, they can be lost permanently.
The Advantages of Adopting Mobile Pay in Your Business
There is a whole range of mobile payment options out there, with contactless payments made using smartphones and smartwatches being among the most popular alternatives. And while these solutions offer obvious advantages to users, they can do a lot to help the daily operations of a business as well. Here are some of the business advantages provided by mobile payment solutions.
Cybercrime Spike: How can you protect your business?
A slew of high-profile companies have recently fallen victim to cybercrime including America’s Colonial Pipeline, EA Games, McDonald’s, and the world’s largest meat supplier JBS. The majority of these have involved ransomware attacks, in which hackers steal data or threaten to delete files if a fee is not paid – usually in cryptocurrency. JBS paid out $11 million in ransom, while the Colonial Pipeline paid Russian hacker group Darkside $4.4 million.
Why financial inclusion needs to reach excluded cash-heavy sole traders
While we applaud efforts to promote financial inclusion and encourage uptake of non-cash payments in the wake of the Covid-19 pandemic, the financial industry and government bodies need to remember a crucial sector of society that’s in danger of being left behind – the small businesses that are the backbone of any nation’s economy. There are currently six million SMEs in the UK, and the vast majority have access to a wide range of digital and mobile payment acceptance solutions.
Preventing fraud without compromising the customer experience
Delivering a great shopping experience is about more than just the shopping, it's about the paying too. However, today merchants are so hyper-focused on the risk of fraud and attacks, the ease of checkout often suffers, leaving customers frustrated and carts abandoned. Rigorous risk mitigation tools can cause friction in the payment process.
Stunning Rise of CNP Fraud and How Merchants Can Fight Back
By Ron Hynes, CEO of Vesta Global losses from payment fraudtripled from 2011 to 2020, and card-not-present (CNP) fraud is proving to be among the most pervasive. Some analysts estimate that retailers will lose $130 billion globally to CNP fraud by 2023. This fraud problem eats away at merchant margins and leads to a poor consumer experience because retailers often decline legitimate transactions to stop fraudulent ones.
Mobile Wallets & Payments are Targets for Fraud, What Merchants Need to Know
By Ron Hynes, CEO of Vesta Over the last 20 years, the payments industry has changed greatly. Contactless cards, mobile payments, and digital wallets, once in their infancy, are becoming ubiquitous, with new payment systems being developed left and right. When Apple Pay was first introduced in 2014, mobile wallets were predicted to be the next big thing; however, that certainly wasn’t the case right away.
Retail’s Fraud Problem Is A Fear Problem
The history of retail is also the history of evolving patterns of fraud. Human nature being what it is, there are always individuals who try to cheat the system and get something for nothing. In recent years, retail fraud attempts have grown most dramatically in card-not-present transactions, thanks to the rise of e- and m-Commerce and the introduction of security chips in physical cards.
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