Mastercard deepens relationship with Sri Lanka’s payments industry through forum on enhancing risk management capabilities

Colombo, 24 April 2017Mastercard recently hosted 50 senior electronic payments industry representatives at its Risk Management workshop in Colombo. The event is part of an ongoing series of knowledge-sharing sessions organized by Mastercard to share global learnings and gain local insights from market partners.

The day-long workshop saw Rajeev Kumar, Customer Fraud Management, South Asia, Mastercard and Christopher Lian, Customer Delivery, Asia Pacific, Mastercard, share updates on customer fraud management and system releases for the upcoming quarter. Mr. Kumar started his session with a review of the regional fraud landscape. He also shared updates on fraud attack vectors and revised standards of the Global Risk Management Program and for Acquirer Fraud Loss Control Programs. Mr. Lian took the audience through upcoming changes to mandatory release, product code and interchange programs, as well as Mastercard Digital Enablement Service (MDES) and optional release services.

Sri Lanka’s financial services industry is keen to adopt and roll out localized electronic payment technologies and solutions. At Mastercard, we support their commitment to innovation and have been working closely with them for about 30 years to  bring world-class, secure electronic payment solutions to market,” said R. B. Santosh Kumar, Country Manager, Sri Lanka and Maldives, Mastercard.

He further added, “Such informative forums enable us to collaborate with key government and industry partners through sharing our global learnings and gaining their insights into the local market. Two of our renowned experts shed light on key payment security issues, vulnerabilities and innovative techniques to mitigate fraud at this recent risk management workshop.”

Appreciating the insights shared by the Mastercard representatives, participants apprised them of market specific ground realities with regards to managing risk.

About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry.  We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories.  Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.  Follow us on Twitter @MastercardAP and @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

Media Contact:
Siva Selvaraj, MullenLowe Sri Lanka, +94 773 595 454
Sivachenduran.Selvaraj@mullenlowe.com