14 DAY TRIAL // Microsoft and Mastercard have announced the launch of a so-called enhanced identity solution whose purpose is to make online shopping more secure.
More specifically, Mastercard says the Digital Transaction Insights makes it harder to intercept payments with new-generation authentication systems that help make sure the customer is exactly who they claim to be.
The new system can be implemented in all kinds of payment systems, including digital wallets and in-app purchases that will be available on iPhone and Android.
Microsoft is the first partner for the new technology, with the two companies claiming the new tool will help tackle digital fraud in a very effective manner.
Also supporting in-app purchases
“Mastercard has directly addressed these needs by enhancing its Digital Transaction Insights solution with next-generation authentication and real-time decisioning intelligence capabilities,” a press release published today reads.
“The solution pairs Mastercard’s network insights with the merchant’s own data to confirm the consumer is who they claim to be, providing financial institutions with the additional intelligence needed to optimize their authorization decisions and approve more genuine transactions. Digital Transaction Insights is used across a wide range of online checkout instances, from click-to-pay functionality and wearables to digital wallets and in-app purchases,” the company continued, therefore confirming that its new-generation authentication system would be compatible with the majority of platforms out there, including mobile devices (where the number of transactions is growing thanks to in-app purchases).
Microsoft says it’s one of the first partners for this new technology, so for example, the Dynamics 365 Fraud Protection risk assessment has been integrated with Mastercard’s Digital Transaction Insights.
“This will enable issuers to enhance their decision-making processes for authorizations, chargebacks and refunds. Moreover, organizations can improve transaction acceptance rates with insights that help them balance profitability and revenue opportunities against fraud loss and checkout friction,” Microsoft explains.