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MasterCard Has Debit Card Fraud Service In Wings

Written by Evan Schuman
November 2nd, 2006

As doubts about existing contactless security procedures are running rampant, MasterCard is swooping to rollout early next year a realtime PIN-based debit card fraud detection program, according to a Computerworld story.

The story said MasterCard will use a proprietary risk-scoring model that will look at factors such as account spending, transaction histories and device-level activity to calculate the likelihood of fraud on an individual ATM transaction, such as if a card that in the past has been used only domestically were to be used in a large transaction in a foreign country. MasterCard has for years offered a similar fraud-detection capability for credit card and signature-based ATM transactions.

Posted in Mobile/Wireless/Contactless, Payment Systems, Security/Fraud
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