FinTech: Mastercard And Microsoft Partner To Make Online Shopping Safer

The new identity verification solution will improve the online shopping experience and counter digital fraud.
Mastercard (NYSE: MA) is taking aim at digital fraud in online shopping by enhancing its Digital Transaction Insights solution with next-generation authentication and real-time decisioning intelligence capabilities. Microsoft’s (NASDAQ: MSFT) Dynamics 365 Fraud Protection’s proprietary risk assessment, which leverages adaptive AI to assist in real-time fraud detection by identifying risky behaviors across purchase, account, and in-store activities, has been integrated with Mastercard’s Digital Transaction Insights. (Cision PR Newswire)
Mastercard: New trust tool
The collaboration and integration will enable real-time intelligence sharing in an easily consumable and actionable format, by pairing Mastercard’s network insights with the merchant’s own data to confirm the consumer is who they claim to be. This would provide financial institutions with the additional intelligence needed to optimize their authorization decisions and approve more genuine transactions including authorizations, chargebacks, and refunds.
The solution would address various types of checkouts including click-to-pay functionality and wearables to digital wallets and in-app purchases.
Ajay Bhalla, president, Cyber and Intelligence at Mastercard, said, “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.”
Charles Lamanna, corporate vice president of Business Applications and Platforms at Microsoft, said, “We are excited to partner with Mastercard to leverage our cloud-native, cutting-edge fraud assessment tools to empower issuers and merchants to prevent more fraud and approve more genuine users.
Related Story: Mastercard Expands BNPL Reach, Adds New Partners

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