MasterCard, Silver Tail Systems tackle fraud

MasterCard Worldwide and Silver Tail Systems revealed a new exclusive relationship that will focus on leveraging and creating innovative solutions to help combat online fraud, Market Watch reports.

The companies' collective expertise will enable merchants to differentiate fraudsters from legitimate consumers in real-time during the online shopping experience.

With e-commerce transactions reaching record levels, both merchants and consumers benefit from identifying the safest and smartest ways to conduct online transactions.

According to Finextra, Johan Gerber, group head, global network products for MasterCard, says: "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."

The relationship between the two is limited initially to the US marketplace, but may be expanded to cover international markets in the future.