Visa has introduced a new suite of security capabilities to detect and prevent payment fraud threats.
The new technologies unveiled include Visa Vital Signs, which monitors transactions and notifies financial institutions of any anomaly at ATMs.
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Another feature introduced is Visa Account Attack Intelligence. It leverages Visa’s processed card-not-present transaction database to identify financial institutions and merchants that hackers may use to predict account numbers, expiration dates and security codes through automated testing.
The technology is designed to alert the respective institutions before the fraudulent transactions begin.
The latest suite of capabilities also includes Visa Payment Threats Lab which enables testing of a client’s processing, business logic and configuration settings to identify errors which may lead to potential vulnerabilities.
The last of the suite, Visa eCommerce Threat Disruption, scans the front-end of e-commerce websites for payment data skimming malware.
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By GlobalDataVisa senior vice-president of payment system risk RL Prasad said: “Cybercriminals attempt to bypass traditional defences by stealing credentials, harvesting data, obtaining privileged access, and attacking trusted third-party supply chains.
“Visa’s new payment security capabilities combine payment and cyber intelligence, insights and learnings from breach investigations, and law enforcement engagement to help financial institutions and merchants solve the most critical security challenges.”
The latest capabilities bolster the company’s Visa Payment Threat Intelligence, which offers cyber intelligence to clients and merchants worldwide.
Visa noted that it will make the new capabilities available to all its clients at no additional cost or sign-up.
