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Walmart pushes mobile and social media initiatives with key acquisition
Bentonville, Ark. -- Wal-Mart Stores said Wednesday that its technology unit, @WalmartLabs, has acquired Boulder, Colo.-based mobile and social advertising firm OneRiot.
OneRiot’s technology will become part of WalmartLabs’ mobile and social shopping efforts, allowing the retailer to hone its social media skills and develop a variety of shopping and retail-related applications.
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Retail fraud incidence down, but dollar impact escalating
New York City -- For every $100 in fraudulent transactions, retailers incurred a “true” cost of $230, according to a new study released Tuesday by LexisNexis Risk Solutions.
According to the study, retail merchants and financial institutions reported an overall decline in fraud rates and transactions while total retail sales rose. Consumers also experienced a decline in fraud losses overall but the average time it took to resolve fraud issues rose by 57% and the out-of-pocket costs of fraud rose by $244.