FB pixel

Mastercard to leverage NuData behavior analysis for untapped African payments market

 

Mastercard plans to leverage the data analysis technology it acquired in 2017 with NuData Security to address the potential of the African payments market, Business Daily reports.

Nearly 95 percent of transactions in Africa are made in cash, and Mastercard General Counsel Tim Murphy said on a recent visit to Nairobi, Kenya, that security enhancements provided by NuData’s flagship product NuDetect improve the company’s ability to prevent payment fraud in the largely untapped market.

“The use of behavioral analytics is a whole new game changer in the way payments fraud can be detected and deterred and since the security of customers is the ultimate concern for shoppers and merchants, we hope to capture a significant chunk of this untapped market,” says Murphy.

Concerns area increasing about payments security in Africa, according to Business Daily, and the ability to flag risky accounts could be valuable to banks and financial institutions.

NuData Security Engineer Don Duncan told Biometric Update that online authentication is in the midst of a dramatic transformation. Mastercard also announced a partnership with Microsoft late in 2018 to collaborate on a decentralized universal ID system.

Article Topics

 |   |   |   | 

Latest Biometrics News

 

OFIQ report outlines evaluation techniques for algorithm accuracy and reliability

The Open Source Face Image Quality (OFIQ) project, led by the German Federal Office for Information Security, has published a…

 

Google Wallet plans for biometric authentication, broad ID document support revealed

Google Wallets are expanding from payments and biometric ID documents like mobile driver’s licenses and passports to “Everything else.” An…

 

Digital ID and SSI to cause radical shift in travel experience by 2035

Verifiable digital credentials and digital wallets took center stage at the recent Phocuswright Europe conference in Barcelona, with professionals from…

 

Testing for biometric identity verification still maturing

Biometrics testing is a rapidly maturing field, but there is more to effective identity verification than an accurate matching algorithm,…

 

Youverse upgrades liveness detection, achieves 100% success rate in iBeta test

Youverse has announced a fourfold improvement in its liveness detection capabilities. The company boasts that the update aims to upgrade…

 

‘Highly effective age assurance’ poorly defined in Ofcom consult, says AVPA

The Age Verification Provider’s Association (AVPA) has issued an extensive response to the UK regulator’s consultation on “Protecting children from…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events