While consumers are concerned about safety and security around electronic payments they also have a strong expectation that it should be convenient and fast to pay for what they want. This was a key point of discussion at a fraud and processing workshop hosted by MasterCard in Johannesburg.
Industry experts, local financial institutions, and merchant representatives discussed international and South African trends in fraud detection and prevention, innovation and security in payments through processing, and the future of e-commerce, galvanising the industry to protect every payment and device from attack by fraudsters.
“At MasterCard, our priority is to safeguard our customers, cardholders and partners from fraud. Wherever possible, we make sure that businesses and consumers are protected from fraud before it occurs, thanks to verification tools like EMV and SecureCode, as well as monitoring processing and updating real-time fraud scoring for merchants,” says Johan Gerber, Group Head, Processing Product Management, MasterCard.
For more information, see the full press release.