MasterCard Expert Monitoring Solutions Fraud Scoring

Attack fraud through the use of specific models allowing issuers to make better educated decisions based on the rules that work for their business. Monitoring fraud at the point of the transaction provides you with precise fraud prediction to help balance the financial impact of fraud against effects on customer satisfaction.

Expert Monitoring Fraud Scoring leverages state-of-the-art predictive fraud models to identify risk at the transaction level. A powerful combination of Artificial Intelligence (AI) and Smart-Agents technology combined with targeted business rules detects fraud patterns quickly and effectively — continually learning and adjusting to new fraud trends and schemes.

Expert Monitoring Fraud Scoring generates a predictive score in real-time during authorization, or in near real-time shortly after authorization, that indicates the likelihood that the transaction is fraudulent. By improving fraud detection rates while lowering the number of false positives, Expert Monitoring can generate real cost savings for issuers by helping them retain their loyal cardholders.

Not all issuer portfolios fit the same mold, so MasterCard also develops custom models that can achieve even greater precision by addressing unique product attributes that create specific fraud challenges and by employing customer-data in conjunction with MasterCard's network data.

MasterCard Expert Monitoring Solutions Compromised Account Service

Fraud resulting from account data compromise events presents issuers with a unique challenge and balancing act. While only a small percent of total accounts in a given compromise may experience fraud, the fraud losses on these accounts can be high. For issuers, spotting that small percent is a daunting task that can't be pinpointed by just one system - it requires a global view of all transactions involved to accurately detect these accounts as early as possible.

Issuers are often faced with finding the right balance in containing fraud loss with as little as possible disruption to their cardholders—effectively balancing, monitoring and reissuing through highly-informed decision making.

MasterCard's unique, global view of transactions can identify patterns that reveal accounts at the greatest risk of experiencing fraud as a result of an account data compromise event.

Expert Monitoring Compromised Account Service evaluates each authorization request to determine if the transacting account has been exposed in an account data compromised event. For potentially exposed accounts, the system provides critical data points regarding the compromised account information within the authorization request message.

The Compromised Account Service helps effectively interpret the threat of fraud in compromised accounts so that you can reduce your risk of fraud loss from compromised accounts by leveraging extensive monitoring and in-depth intelligence for compromise events. You can also seek to lower your costs of re-issuance with a threat score that predicts the likelihood of fraud in each compromised account to help determine if and when you should incur re-issuance costs.

MasterCard SecureCode^™

To meet the increasing need for payment guarantee and cardholder authentication, MasterCard SecureCode is a global e-commerce solution that enables cardholders to authenticate themselves to their issuers through the use of a unique personal code. This gives cardholders the added peace of mind that comes with knowing that no one else has access to their SecureCode.

MasterCard SecureCode readily accommodates a broad spectrum of authentication methods, ranging from static passwords to unique, one-time passwords as well as integration with existing bank authentication platforms, including online banking.

Risk-based authentication enables issuers to examine SecureCode authentication results, determine transaction risk and decide the appropriate level of authentication required. This allows issuers to focus fraud prevention efforts on transactions that present the most risk.

MasterCard offers the SecureCode Education program which provides issuers, acquirers and merchants, interactive and informative guidance on SecureCode adoption; the benefits of deployment, best practices, issuer authentication options, fraud reduction opportunities and industry trends. Learn More

If you are a merchant, click here to find out more about SecureCode.

MasterCard Online Authentication Service

Recognizing that not every issuer is ready to implement an authentication solution on its own, MasterCard provides a turnkey hosted service to facilitate issuer participation in the MasterCard SecureCode™ and Verified by Visa programs.

MasterCard Online Authentication Service (OAS) meets the needs of all e-commerce participants by offering flexible and robust solutions for online payment authentication. This reduces fraud-related costs, by allowing issuers to verify customers at the point of purchase online.

Each issuer can tailor OAS to meet its individual requirements while leveraging the broad technical and operational resources of MasterCard. Operated from our Global Operations Headquarters, the MasterCard platform enables issuers of MasterCard, Maestro® and Visa to augment their fraud prevention programs with minimum internal resources. Today, dozens of issuers are using the service, representing 25 countries and ten languages.

OAS is designed to satisfy the financial industry’s highest online security standards can be tailored to meet a bank’s needs, including applying individual bank branding, custom graphics and text. Flexible deployment options in terms of enrollment formats and language support are also available.

Cardholder data is protected by two-factor security. Issuer customer servicing agents can access cardholder inquiry and reporting functions through a special administrative module tied to MasterCard^® OnLine.