MasterCard Boosts Security in its Payment Cards

  • Feb 25, 2011
NagraID Security, a Kudelski Group company, MasterCard Worldwide and Symantec Corp. have teamed up to introduce the MasterCard Display Card, which brings stronger authentication functionality on a payment card to the United States.

Recently piloted and launched in Europe and Asia, the Display Card complements existing card security features through the use of Symantec’s VeriSign Identity Protection (VIP) Authentication Service and NagraID Security card technology. By building this authentication technology into debit and credit cards, cardholders, issuers and merchants are further protected from online fraud and identity theft.

The Display Card looks and functions just as the same magnetic stripe card consumers have relied on for the past 50 years, but it features a built-in display that enables cardholders to generate dynamic onetime “passwords,” providing strong authentication. The onetime password can be activated by card issuers as a dynamic card verification code (CVC2) or as an on-card activation of MasterCard SecureCode, an online security service to guard against unauthorized use of a consumer’s MasterCard card while shopping online.

“At MasterCard, we’re focused on activating new technologies to meet the evolving needs and concerns of cardholders and our customers,” said Ed McLaughlin, chief emerging payments officer of MasterCard Worldwide. “The launch of the MasterCard Display Card in the United States is a great example of strong collaboration with our partners to deliver a solution that helps make life easier for consumers by enabling simple and safe remote payments.”

“We are pleased to be working with MasterCard and NagraID Security to help create a more secure online environment for MasterCard users who are transacting on the Wb,” said Kerry Loftus, senior director of product management for user authentication at Symantec. “By utilizing VIP strong authentication in their security ecosystem, MasterCard can now provide its customers with increased levels of security to help protect their identities every time they sign on to conduct online banking or any type of online transaction where their MasterCard card is accepted.”

“After a highly successful adoption by Asian and European banks and their customers, we are thrilled to introduce the MasterCard display card to the U.S. market. ... With Symantec and their cloud-based authentication service, banks can now easily and rapidly deploy the MasterCard display card to their clients,” Cyril Lalo, CEO of NagraID Security. “As the world leader in online transactions, the U.S. is a great market for this new payment display card. The MasterCard display card will enable card issuers to fully step into the new era in card payments and strengthen their online services.”


Featured

  • Maximizing Your Security Budget This Year

    Perimeter Security Standards for Multi-Site Businesses

    When you run or own a business that has multiple locations, it is important to set clear perimeter security standards. By doing this, it allows you to assess and mitigate any potential threats or risks at each site or location efficiently and effectively. Read Now

  • Survey: 72% of CISOs Are Concerned Generative AI Solutions Could Result In Security Breach

    Metomic recently released its “2024 CISO Survey: Insights from the Security Leaders Keeping Critical Business Data Safe.” Metomic surveyed more than 400 Chief Information Security Officers (CISOs) from the U.S. and UK to gain deeper insights on the state of data security. The report includes survey findings on various cybersecurity issues, including security leaders’ top priorities and challenges, SaaS app usage across their organization, and biggest concerns with implementing generative AI solutions. Read Now

  • New Research Shows a Continuing Increase in Ransomware Victims

    GuidePoint Security recently announced the release of GuidePoint Research and Intelligence Team’s (GRIT) Q1 2024 Ransomware Report. In addition to revealing a nearly 20% year-over-year increase in the number of ransomware victims, the GRIT Q1 2024 Ransomware Report observes major shifts in the behavioral patterns of ransomware groups following law enforcement activity – including the continued targeting of previously “off-limits” organizations and industries, such as emergency hospitals. Read Now

  • OpenAI's GPT-4 Is Capable of Autonomously Exploiting Zero-Day Vulnerabilities

    According to a new study from four computer scientists at the University of Illinois Urbana-Champaign, OpenAI’s paid chatbot, GPT-4, is capable of autonomously exploiting zero-day vulnerabilities without any human assistance. Read Now

Most   Popular

Featured Cybersecurity

Webinars

New Products

  • Unified VMS

    AxxonSoft introduces version 2.0 of the Axxon One VMS. The new release features integrations with various physical security systems, making Axxon One a unified VMS. Other enhancements include new AI video analytics and intelligent search functions, hardened cybersecurity, usability and performance improvements, and expanded cloud capabilities 3

  • 4K Video Decoder

    3xLOGIC’s VH-DECODER-4K is perfect for use in organizations of all sizes in diverse vertical sectors such as retail, leisure and hospitality, education and commercial premises. 3

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge. 3