MasterCard has opened its digital security facility to its customers, in a bid to increase collaboration on key issues that can deliver greater payments peace of mind. In coordination with government security agencies and leading academics, the England-based MasterCard DigiSec Lab is proactively testing threats to all forms of digital payments.
Ajay Bhalla, president of Enterprise Security Solutions at MasterCard notes that the lab aims to maximize product innovation and security investments in light of the smarter criminal threat currently facing digital payments. The lab team deconstructs the technology to identify opportunities to strengthen it and continue to protect consumers, merchants and financial institutions from fraud. Some of these procedures include the testing of the latest in EMV chip cards, mobile payments and biometric authentication.
The MasterCard DigiSec Lab works closely with groups such as Information Security, Emerging Payments and MasterCard Labs to deliver a multi-layered approach to address security risks and concerns wherever they may arise.