The new “trust” tool improves online experience and helps tackle digital fraud
Mastercard announced the launch of an enhanced identity solution designed to improve the online shopping experience and tackle digital fraud in a new collaboration with Microsoft Corp.
Mastercard has enhanced its Digital Transaction Insights solution with next-generation authentication and real-time decisioning intelligence capabilities. The solution pairs Mastercard’s network insights with the merchant’s own data to confirm the consumer is who they claim to be, providing financial institutions with the additional intelligence needed to optimise their authorisation decisions and approve more genuine transactions. Digital Transaction Insights is used across a wide range of online checkout instances, from click-to-pay functionality and wearables to digital wallets and in-app purchases.
“Shopping online should be simple, quick and secure. But that isn’t always the case. We’re committed to developing advanced identity and fraud technology to help enhance the real-time intelligence we provide to financial institutions around the globe. This builds on our longstanding commitment to working across the industry to provide advanced technologies that enable trust, and help build a safe and thriving digital ecosystem for all,” said Ajay Bhalla, president, of Cyber and Intelligence at Mastercard.
Microsoft will be the first partner to share its insights and integrate with the new Digital Transaction Insights solution across several lines of business. Microsoft’s Dynamics 365 Fraud Protection’s proprietary risk assessment, which leverages adaptive AI to assist in real-time fraud detection by identifying risky behaviours across purchase, account and in-store activities, has been integrated with Mastercard’s Digital Transaction Insights to better enable real-time intelligence sharing in an easily consumable and actionable format.
This will enable issuers to enhance their decision-making processes for authorisations, chargebacks and refunds. Moreover, organisations can improve transaction acceptance rates with insights that help them balance profitability and revenue opportunities against fraud loss and checkout friction. Digital Transaction Insights is enabled by EMV 3-D Secure and Mastercard Identity Check, a global authentication solution built on the enhanced industry standard.
