The increase of electronic commerce in recent months has led to the credit and debit card brand Mastercard to collect in a guide the security recommendations for online payments.
The objective is “to improve the consumer experience through a broad set of security initiatives and services based on the most advanced technologies in the industry.” The Digital Security Roadmap is aimed at customers, partners and businesses that accept these cards.
The launch arrives in a timely manner to regions such as Latin America and the Caribbean, where online commerce continues to increase and is adopted by more and more people and commercial establishments, thanks to the speed and security offered by this modality.
Following the recent industry standards (EMV 3DS) for the authentication of online transactions, the Mastercard guide “will include partnerships with governments and regulators, educational workshops with banks and merchants, and the launch of the latest technologies and services related to the online security. “
The security measures seek to deepen the use of new technologies to avoid cases of fraud in electronic payments, in addition to providing the user with a better experience. The MasterCard initiative includes accelerating the adoption of authentication and tokenization technologies this year.
In this sense, it is expected that next August, the banks will have, with MasterCard, a new fraud detection and decision system based on artificial intelligence called Decision Intelligence. Its function is to assess the level of risk of a transaction to optimize the ability of banks to increase the accuracy of payment approval.
On the other hand, tokenization also acquires relevance in the current commercial scenario as a tool for the storage of the data of the customer’s cards at the digital system of the stores. The mechanism works as follows: in case of a theft, the tokenization technology replaces the customer’s data with a 16-digit alternative number -token- and thus reduces the probability of fraud.
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