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Mastercard and Square partner to deliver small business events

By Patrick Brusnahan

Mastercard and Square have joined forces to drive financial inclusion with events. This is through a two-city, New York City and Los Angeles, collaboration on Self Made.

Self Made is Square’s event series that focuses on enhancing the skills of underserved business leaders to make economic and community impacts through panels and workshops.

The first event will be on October 3 2019 in Long Island City. The Self Made events build on the partnership between Mastercard and Square.

In January 2019, Square launched the Square Card, a free business debit Mastercard for businesses to manage cash flow. It achieves this by eliminating the time between making a sale and having the funds ready to spend. In addition, it offers instant discounts on purchases made at other Square sellers.

“We recognise the critical need to continually arm small business owners and micro-entrepreneurs with the tools and skills to enable their success,” said Sherri Haymond, executive vice president of digital partnerships at Mastercard. “The Self Made event series brings awareness to the ways that these leaders can leverage technology to drive forward the small business economy.”

“After kicking off the year in small business education with events in Atlanta and Pittsburgh, we’re thrilled to be partnering with Mastercard to expand these efforts to New York and Los Angeles,” said Chris Sweetland, head of payments partnerships and industry relations at Square. “It’s our shared goal that the Self Made event series will equip attendees with the know-how to build a successful, growing business.”

Also today, Mastercard launched Threat Scan, a global service that helps banks proactively identify threats in authorisation systems.

Threat Scan works alongside an issuer’s existing fraud tools by imitating known criminal transaction behaviour. With this, it can assess the authorisation system responses before exploitation and fraud loss happens.

Utilising an evolving selection of test scenarios from Mastercard into criminal behaviours, Threat Scan simulates known fraud attacks. It can then locate weak points in the authorisation process.

Furthermore, as cyber criminals find new methods, the scenarios can be added to the range of tests. These are instantly ran against systems globally.

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