13/02/2012
By Scott Thompson
A new MasterCard Worldwide and Silver Tail Systems alliance is to focus on the creation of online fraud solutions.
They say that the combination of Silver Tail Systems’ technology and MasterCard’s payments experience and insights will make online merchants in the US better equipped to spot malware or robotic (“bots”) activity originating from personal computers or smartphones attacking their 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 at 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 defence 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 at Silver Tail Systems. “E-commerce merchants have broadened their focus to embrace the notion of customer interactions, not simply customer transactions. Smartphones, 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.”
