MasterCard Combats Online Fraud

MasterCard Worldwide connects users through global payments and technology, but the company is now taking a proactive approach to online fraud by teaming up with Silver Tail Systems. The web session intelligence provider willl focus on leveraging and creating innovative solutions to help combat online fraud at MasterCard.

The companies’ collective expertise will enable merchants to differentiate fraudsters from legitimate consumers in real-time during the online shopping experience.

In 2011, U.S. retail e-commerce spending reached a record $161.5 billion, a 13-percent increase from 2010, according to comScore, which measures digital data. With eCommerce transactions reaching record levels, both merchants and consumers benefit from identifying the safest and smartest ways to conduct online transactions.

By combining Silver Tail Systems’ technology with MasterCard’s extensive payments experience and insights, merchants will be better equipped to spot malware or robotic (“bots”) activity originating from personal computers or smart phones attacking their online payments systems.

“Online fraud resulting from malware, viruses and criminal-controlled bots is a serious concern for both merchants and consumers,” says Johan Gerber, group head of Global Network Products for MasterCard Worldwide. “With the increased sophistication of these fraud attacks, merchants are finding it more difficult to distinguish between good customers and criminals. Our relationship with Silver Tail Systems allows us to extend beyond the traditional fraud detection methods and provide merchants with a strong defense against fraud, while improving the consumers’ online experience.”

"We are excited to join forces with MasterCard to help reduce fraud for online merchants," says Tim Eades, CEO of Silver Tail Systems. "eCommerce merchants have broadened their focus to embrace the notion of customer interactions, not simply customer transactions. Smart phones, social networks, and app stores represent new catalysts that are forcing merchants to rethink customer interaction with their web presence. Cybercriminals are also exploiting these trends and traditional security tools may not be capable of keeping pace. We provide that granular level of visibility and security throughout consumers' entire online shopping experience, without requiring modification to the end user's device or the back-end website infrastructure."

Through the new alliance, which is exclusive within the payments industry, MasterCard and Silver Tail Systems will immediately work together to bring innovative fraud solutions to online merchants in the U.S., while exploring future opportunities to expand the scope and reach of the relationship.

“Web-based navigation-centric solutions view the HTTP stream of a website and analyze in real time the traffic and Web sessions by user and IP addresses,” says Avivah Litan, Vice President and Distinguished Analyst at Gartner Research. “This method has been successfully used by Gartner clients to spot malware-based activity that shows up as abnormally quick navigation or navigation that doesn't follow normal human patterns and behavior. It has also been used successfully to identify fraud rings and to gain visibility into attacker patterns and behavior.”

Featured

  • Mall of America Deploys AI-Powered Analytics to Enhance Parking Intelligence

    Mall of America®, the largest shopping and entertainment complex in North America, announced an expansion of its ongoing partnership with Axis Communications to deploy cutting-edge car-counting video analytics across more than a dozen locations. With this expansion, Mall of America (MOA) has boosted operational efficiency, improved safety and security, and enabled more informed decision-making around employee scheduling and streamlining transportation for large events. Read Now

  • Security Industry Association Launches New “askSIA” AI Tool

    The Security Industry Association (SIA) has unveiled a brand-new SIA member benefit – askSIA, a conversational AI agent designed to help users get the most out of their SIA membership, easily access SIA resources and find the latest information on SIA’s training and courses, reports and publications, events, certification offerings and more. SIA members can easily find askSIA by visiting the SIA homepage or looking for the askSIA icon in the top left of webpages. Read Now

    • Industry Events
  • Industry Embraces Mobile Access, Biometrics and AI

    A combination of evolving workplace dynamics, technology innovation and new user expectations is changing how people enter and interact with physical spaces. Access control is at the heart of these changes. Combined with biometrics and AI, mobile access control has become increasingly crucial for deploying entry solutions that are seamless, secure and adaptive to user needs. Read Now

  • Sustainable Video Solution Delivered for Landmark City of London Office Development

    An advanced, end-to-end video solution from IDIS, with a focus on reducing waste and costs, has helped a major office development in the City of London align its security with sustainability objectives. Read Now

  • DHS to End ‘Shoes-Off’ Travel Policy

    Homeland Security Secretary Kristi Noem announced a new policy today which will allow passengers traveling through domestic airports to keep their shoes on while passing through security screening at TSA checkpoints. Read Now

New Products

  • 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.

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis.

  • PE80 Series

    PE80 Series by SARGENT / ED4000/PED5000 Series by Corbin Russwin

    ASSA ABLOY, a global leader in access solutions, has announced the launch of two next generation exit devices from long-standing leaders in the premium exit device market: the PE80 Series by SARGENT and the PED4000/PED5000 Series by Corbin Russwin. These new exit devices boast industry-first features that are specifically designed to provide enhanced safety, security and convenience, setting new standards for exit solutions. The SARGENT PE80 and Corbin Russwin PED4000/PED5000 Series exit devices are engineered to meet the ever-evolving needs of modern buildings. Featuring the high strength, security and durability that ASSA ABLOY is known for, the new exit devices deliver several innovative, industry-first features in addition to elegant design finishes for every opening.