Mastercard, in collaboration with Microsoft, has introduced an enhanced identity solution to combat digital frauds and ensure safer online shopping.

The move involved adding next-generation authentication and real-time decisioning intelligence capabilities to its Digital Transaction Insights solution.

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The solution leverages Mastercard’s network insights and the merchant’s own data to authenticate the customer. The technology, used in several online checkouts, will help financial institutions approve genuine transactions.

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.”

According to a press statement, Microsoft’s Dynamics 365 Fraud Protection’s proprietary risk assessment is integrated with the Digital Transaction Insights solution.

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The risk assessment technology uses adaptive AI to analyse user behaviours during transactional activities to identify frauds.

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.”

Earlier this month, crypto lender Nexo partnered with Mastercard and DiPocket to introduce a crypto-backed Mastercard card.