MasterCard prevent cyber attacks before they happen

3 October 2014

MasterCard MasterCard is getting hardcore in its ongoing scrap with cyber criminals, but implementing a new solution.

The card giant has come out with SaftetyNet, which is designed to work with a bank or processor's own security tools, and is apparently so amazing that it can thwart crimes before they happen.

According to Ajay Bhalla, who is our favourite named president of enterprise security solutions at MasterCard this week, said: “With SafetyNet we are really fast tracking the next generation of security solutions, which are designed to stop fraud or attacks before many of our partners have even noticed it is happening,”

We can do this because MasterCard’s SafetyNet operates as intelligent technology which can identify fraud in real time and decline a transaction before any exposure takes place.”

It is thought SaftetyNet uses the significant power of MasterCard’s global financial network to find potential attacks before they take place and in some cases will be able to do so before the bank or processor has noticed.

SafetyNet monitors different channels and geographic regions in order to provide the most appropriate level of support for each market and business partner involved, and works as complementary to the banks own security tools with a new layer of protection.

Bhalla added: “MasterCard is delivering a multi-layer approach to safety and security. For the consumer there are the security tools you can see including the EMV chip on your physical card or the SecureCode screen when at your online checkout.  Through the launch of SafetyNet MasterCard is taking further steps to secure the payment data and transactions at both retailer and issuer”.

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