How Mastercard Is Improving Fraud Detection With Identity Check

Online credit card fraud is a major concern for enterprises, consumers and vendors alike. One of the biggest brands in the payment card space is Mastercard, which has been quietly working on implementing technology it has branded Mastercard Identity Check, in an effort to help reduce fraud, while making it easier for merchants to accept online payments. Mastercard Identity Check is based on the EMV 3-D Secure 2.0 (3DS) specification that provides a layer of security for online payment card transactions, when the payment card itself is not present for physical verification. With Identity Check, Mastercard is integrating machine learning artificial intelligence capabilities that verify over 150 different variables as part of a transaction process, to help credit card issuing financial institutions make rapid accurate decisions.