“Mastercard has made significant investments in fraud prevention and technology companies over the past 10 years,” said Aaron Press, IDC’s global payment strategy research director. These include Brighterion AI, Vocalink, Ekata and Ethoca, among others. “They have a different perspective on things, but they revolve around fraud prevention and risk management.”
He pointed out that the direct financial risk of fraud on Mastercard and its competitors, such as Visa or American Express, is small, since they do not issue the cards themselves – the financial institutions that form their customer base do.
“It’s great that they are so interested in this,” he said. Although the risk is not direct, “it is in their interest to maintain integrity in the payment systems they use. If consumers lose trust in this process, no one will use the cards. They want to increase their attachment to their partners.”
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