MasterCard and Silver Tail Systems combat online fraud
MasterCard and Silver Tail System announced a relationship that will enable merchants to differentiate fraudsters from legitimate consumers in real-time during the online shopping experience.
By combining Silver Tail Systems’ technology with MasterCard’s payments experience and insights, merchants will be better equipped to spot malware or robotic (“bots”) activity originating from personal computers or smart phones attacking their online payments systems.
“Online fraud resulting from malware, viruses and criminal-controlled bots is a serious concern for both merchants and consumers,” says Johan Gerber, Group Head, Global Network Products for MasterCard Worldwide. “With the increased sophistication of these fraud attacks, merchants are finding it more difficult to distinguish between good customers and criminals. Our relationship with Silver Tail Systems allows us to extend beyond the traditional fraud detection methods and provide merchants with a strong defense against fraud, while improving the consumers’ online experience.”
“We are excited to join forces with MasterCard to help reduce fraud for online merchants,” says Tim Eades, CEO of Silver Tail Systems. “eCommerce merchants have broadened their focus to embrace the notion of customer interactions, not simply customer transactions. Smart phones, social networks, and app stores represent new catalysts that are forcing merchants to rethink customer interaction with their web presence.”
“Cybercriminals are also exploiting these trends and traditional security tools may not be capable of keeping pace. We provide that granular level of visibility and security throughout consumers’ entire online shopping experience, without requiring modification to the end user’s device or the back-end website infrastructure,” he added.