Today, Mastercard has announced its collaboration with Microsoft which is geared toward delivering a frictionless online shopping experience and reducing digital fraud cases. Mastercard launched an enhanced identity solution that will help them achieve these goals.
Mastercard has put measures into place to help avoid the further occurrence of this issue by enhancing its Digital Transaction Insights solution with next-generation authentication and real-time decisioning intelligence capabilities.
According to the blog post by Microsoft:
Microsoft will be the first partner to share its insights and integrate with the new Digital Transaction Insights solution across several lines of business. Building on a long history of cross-collaboration, Microsoft’s Dynamics 365 Fraud Protection’s proprietary risk assessment, which leverages adaptive AI to assist in real-time fraud detection by identifying risky behaviors across purchase, account and in-store activities, has been integrated with Mastercard’s Digital Transaction Insights to better enable real-time intelligence sharing in an easily consumable and actionable format.
Mastercard's network insights will now be paired with the shop's own data, which will in return help them verify the buyer's true identity. It will also provide financial institutions with all the necessary information that is required before making any authorizations, thus, fostering transparency when payments are made.