Microsoft and Mastercard are partners going back a few years and have collaborated on Azure integration into the Mastercard Track platform, and digital identity technology. In the latest development, Mastercard has launched an improved identity solution that furthers it collaboration with Microsoft.
Converting products to sales is more important than ever in the ultra-competitive retail space. Online shopping means retailers are competing on a global scale. However, there is also huge potential for fraud as the industry continues to open and digitize.
Fraudsters evolve their methods for tricking both consumers and retailers. Mastercard's new Digital Transaction Insights brings innovative authentication services to merchants in real-time. This means retailers can make actionable decisions more quickly and with greater accuracy.
The system works by combining Mastercard's network insights data with data from the merchant to provide confirmation on the identity of the consumer. The company says Digital Transaction Insights works across credit/debit cards, digital wallets, click-to-pay, in-app purchases, and more.
Ajay Bhalla, president, Cyber and Intelligence at Mastercard, said, “Shopping online should be simple, quick and secure. But that isn't always the case. We're committed to developing advanced identity and fraud technology to help enhance the real-time intelligence we provide to financial institutions around the globe. This builds on our longstanding commitment of working across the industry to provide advanced technologies that enable trust, and help build a safe and thriving digital ecosystem for all.”
Dynamics 365 Integration
Microsoft's role is as the first partner to share insights and integrate the Digital Transaction Insights service into its business. Furthermore, Dynamics 365 Fraud Protection is integrated into the solution, providing real-time fraud data detection.
Charles Lamanna, corporate vice president of Business Applications and Platforms at Microsoft, said, “We are excited to partner with Mastercard to leverage our cloud-native, cutting-edge fraud assessment tools to empower issuers and merchants to prevent more fraud and approve more genuine users. This partnership lays the foundation for the future of global fraud prevention where data silos are no longer a barrier to security.”
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