Mastercard has introduced a threat intelligence solution aimed at combating payment fraud on a large scale.

The new service integrates Mastercard’s insights into fraud and its extensive global network visibility with targeted cyber threat intelligence from Recorded Future’s platform.

This integration is intended to enhance the capabilities of payment fraud and merchant compliance teams in identifying, preventing, and responding to cyber-enabled fraudulent activities.

Details of Mastercard’s Threat Intelligence Solution

According to an official press release, a significant 57% of global fraud leaders receive notifications about cyber breaches only after financial losses have begun. This highlights the critical need for improved communication between fraud and cybersecurity teams. Mastercard Threat Intelligence is designed to bridge this gap, allowing these teams to collaborate more effectively to prevent potential fraudulent activities.

The key features include:

• Card testing detection: Real-time alerts and proactive declines of suspicious test transactions to reduce subsequent fraud and protect cardholders.
• Digital skimming intelligence: Utilizing quantitative data to evaluate the impact of skimmers on cards, with support from Mastercard’s partners to combat malware in the payment ecosystem.
• Merchant threat intelligence: Offering detailed insights into merchant risks and facilitating quicker response times during incidents.

The solution also provides:

• Ecosystem threat intelligence: Weekly reports detailing upcoming threats and vulnerabilities affecting the broader payments environment.
• Payment intelligence reports: Actionable case studies and analysis of fraud trends to inform strategic decisions and bolster overall security measures.