View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
March 30, 2012

MasterCard develops real-time e-commerce fraud tool for US cards

The tool is called Expert Monitoring Fraud Scoring for Merchants and MasterCard said it improves merchants view of customer behaviour behaviour beyond a merchants website or a cardholders shopping cart. MasterCard said that, based on tests that it has run, merchants could cut down fraud losses by between 15-30%, simply by reviewing or automatically declining transactions deemed as high-risk by the using the new tool.

By Verdict Staff

MasterCard has unveiled a fraud detection tool for online transaction that works in real-time.

The tool is called Expert Monitoring Fraud Scoring for Merchants and MasterCard said it improves merchants’ view of customer behaviour “behaviour beyond a merchant’s website or a cardholder’s shopping cart”.

MasterCard said that, based on tests that it has run, merchants could cut down fraud losses by between 15-30%, “simply by reviewing or automatically declining transactions deemed as high-risk by the using the new tool”.

The tool helps merchants calculate a fraud score by considering a longer span of transaction history than in card present transactions.

“Our new tool allows acquirers and their participating merchants to look at the potential for fraud in a transaction in real time, and integrate the data into any existing fraud detection solution. This helps increase accuracy in fraud detection, and helps to reduce the bottom-line impact of fraud,” said   Johan Gerber, group head, global network products for MasterCard Worldwide.

The tool targets fraud on US-issued cards.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International