Microsoft’s Dynamics 365 Fraud Protection’s proprietary risk assessment has been integrated with the Mastercard’s Digital Transaction Insights solution to make online shopping safer
Mastercard works with Microsoft to introduce a next-generation identity solution to combat digital fraud. (Credit: Alina Kuptsova from Pixabay)
Mastercard has collaborated with Microsoft to launch a next-generation identity solution to enhance the online shopping experience and combat digital fraud.
For this, Mastercard is said to have enhanced its Digital Transaction Insights solution by adding next-generation authentication and real-time decisioning intelligence capabilities.
The Digital Transaction Insights solution pairs the network insights of Mastercard with the merchant’s own data. This helps to confirm the authenticity of the consumer, offer the additional intelligence for financial institutions to optimise their authorisation decisions, as well as approve more transactions that are genuine.
Mastercard cyber and intelligence president Ajay Bhalla 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.
“This builds on our longstanding commitment of working across the industry to provide advanced technologies that enable trust, and help build a safe and thriving digital ecosystem for all.”
Microsoft will become the first partner to Mastercard for sharing its insights. The former will integrate its technology with the new Digital Transaction Insights solution across various lines of business.
The proprietary risk assessment of Microsoft’s Dynamics 365 Fraud Protection has been integrated with the Mastercard solution. By making use of adaptive artificial intelligence (AI), Microsoft’s solution is said to help in detecting fraud in real-time by identifying risky behaviours across purchases, in-store activities, and accounts.
The integration helps in enabling real-time sharing of intelligence in a format that is easily consumable and actionable, said the parties.
Furthermore, it helps issuers to improve their decision-making processes for authorisations, refunds, and chargebacks. Besides, organisations can boost acceptance rates of transactions with insights that let them balance profitability and revenue opportunities against checkout friction and fraud loss.
Microsoft business applications and platforms corporate vice president Charles Lamanna 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.
“This partnership lays the foundation for the future of global fraud prevention where data silos are no longer a barrier to security.”