Securing your best chance for success

Global bond to fight attacks

Launched last month, the Internet Fraud Alert centre is a coalition of security organizations and consumer groups such as PayPal, McAfee, American Bankers Association, the U.S. Federal Trade Commission and Anti-Phishing Working Group (APWG), according to an earlier report by ZDNet Asia's sister site, ZDNet UK.

With the new facility, security researchers now have a centralized alert system--developed by Microsoft -- they can turn to when they want to report stolen data such as online account login details or credit card numbers.

They can also use the platform to notify affected institutions that have been attacked or warn organizations about potential risks so they can duly safeguard their assets.

Now though, new technologies and pioneering innovations are working to ensure that standards are met and consumers can shop online securely and safely.

At the heart of such innovation is PayPal, the secure online payment method that allows users to pay or get paid quickly and easily without sharing any financial information. "Payments is a very complicated business," explains Scott Thompson, President of PayPal in a recent interview with executive channel MeetTheBoss.tv. "As a consumer you probably look at it and say 'Wow, this is easy; it works all the time; it works exactly as I expect it to,'but when you're down inside the business and trying to understand how you build products, how you move transactions around, how you clear and settle things around the world, it's very, very complicated."

What's more, with all signs indicating that the online retail is expected grow exponentially for the retail sector, at least according to the second annual PayPal Online Retail Report released last month, PayPal's innovate technology is set to become even more critical in the fight against fraud.

"The last two and a half years have indicated to me that the opportunities for PayPal are enormous," adds Thompson. "So as president, as general manager for this business, what you have to do is to take a step back and ask the question: 'what do our customers need? What do they want from us?

What do they expect from us and then how are we going allocate our capital to best serve those customers?'"

To find out more about how PayPal is securing the online retailer sector, please go to MeetTheBoss.tv

http://www.meettheboss.tv/broadcast/?contributorFullName=scott-thompson&mediaTitle=pioneering-leadership&mediaFileId=388

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