Mastercard and Microsoft team up to fight credit card fraud

Cyberattacks involving credit cards are the most numerous. To counter them, Mastercard and Microsoft have decided to join forces: Mastercard’s Digital Transaction Insights will include Microsoft’s Dynamics 365 Fraud Protection artificial intelligence (AI) technology. This partnership announced on April 25 aims to improve the online shopping experience and fight against digital fraud.

Online sales continue to increase, they have also been boosted by the pandemic. For companies, understanding and continuously improving the customer experience has become as important as developing better products, innovation, supply chain management or marketing.

Customers who have been victims of credit card fraud during a purchase on a site turn to their competitors for their next orders, companies are also impacted by this fraud.

Artificial intelligence tools like predictive analytics, sentiment analysis, natural language processing (NLP), have helped deliver a smooth experience, but at the same time, credit card fraudsters have found new methods to retrieve map coordinates and reuse them for their benefit. In 2019, this fraud was estimated at 50 billion dollars, the banks, having to reimburse their customers, all seek to protect online transactions.

Mastercard’s Digital Transaction Insights solution

To protect its customers’ transactions, Mastercard has enhanced its Digital Transaction Insights solution with next-generation authentication and real-time business intelligence capabilities. This is provided by Microsoft’s Dynamics 365 Fraud Protection, which uses adaptive AI to help with real-time fraud detection by identifying questionable behavior during purchases.
This solution combines Mastercard’s network information with merchant data to confirm the identity of the buyer. It also provides banks with additional information needed to authorize transactions. Digital Transaction Insights is used in a wide range of online payment instances, from click-to-pay functionality and wearable devices to digital wallets and in-app purchases. Ajay Bhalla, President, Cyber ​​and Intelligence at Mastercard, said:

“Online shopping should be simple, fast and secure. But it’s not always the case. We are committed to developing advanced identity and fraud technology to help improve the real-time intelligence we provide to financial institutions around the world. This builds on our long-standing commitment to working across the industry to deliver advanced technologies that are trusted and help build a safe and thriving digital ecosystem for all. »

Charles Lamanna, corporate vice president of enterprise applications and platforms at Microsoft, said:

“We are excited to partner with Mastercard to leverage our industry-leading, cloud-native fraud assessment tools to enable issuers and merchants to prevent more fraud and bypass more genuine users. This partnership lays the foundation for the future of global fraud prevention where data silos are no longer a barrier to security. »

Digital Transaction Insights is enabled by EMV 3-D Secure and Mastercard Identity Check, a global authentication solution based on the enhanced industry standard. These support the requirements of GDPR and other related regulations. In 2021 alone, Mastercard Identity Check drove a 14% increase in transaction approval rates across billions of transactions.

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Mastercard and Microsoft team up to fight credit card fraud


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