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MasterCard launch SafetyNet – a global tool designed to reduce the risk of cyber hacking of banks and processors

Launched at World Retail Congress 2014 – SafetyNet is designed to use the power of MasterCard’s global network, to identify potential attacks before they start and in some cases before the bank or processor is even aware.

Around the world consumers put safety and security of their payments as a key priority when shopping, which is why MasterCard has been working to ensure payments and the data connected to payments are safe, wherever you are.

SafetyNet monitors different channels and geographies, and provides the most appropriate level of support for each market and partner business, by using sophisticated algorithms.  SafetyNet is another advanced tool in MasterCard’s priority area of security and is already integrated into the global payment network.

Ajay Bhalla, President of Enterprise Security Solutions, MasterCard said:  “With SafetyNet we are really fast tracking the next generation of security solutions, which are designed to stop fraud or attacks before many of our partners have even noticed it is happening.  We can do this because MasterCard’s SafetyNet operates as intelligent technology which can identify fraud in real time and decline a transaction before any exposure takes place. Today’s announcement reinforces our leading position on safety and security around the world, which is also underlined by our recent trials for biometric authentication in voice and facial recognition.”

 

Additional assets:

–          SafetyNet press release