MasterCard Urges Merchants to Increase Security of Credit Card Customer Data
To offer our weekly summary of credit card rates, Credit
Card Monitor, in your publication or on your Web site, please
Urges Merchants to Increase Security of Credit Card Customer
Teaming with rival Visa to protect information, according to
On the heels of several high-profile customer information leaks
that left the data of millions of credit card customers vulnerable
this year, MasterCard has launched a new program that uses a
mix of incentives, tools and education to help merchants safeguard
consumer data. In addition, the New
York Times reported on Thursday that MasterCard and Visa
are working together to create a group that would set industry-wide
year a number of security breaches left card user data vulnerable
to theft, most notably one that put 40 million accounts at risk
at CardSystems Solutions, a payment processor.
the incentive end, MasterCard is offering lower interchange
rates on online transactions when merchants use MasterCard’s
SecureCode program that gives cardholders the ability to use
a unique security code to authorize online transactions.
the tools end, MasterCard is offering free “vulnerability
scans” of merchant networks to point out potential security
the education end, a series of trade ads, “Webinars”
and a new security Web site will be available to help merchants
understand security issues and where to go for help.
to the New York Times report, security officials from Visa and
MasterCard began meeting early last year, and executives from
both associations have separately mentioned the possibility
of teaming up on a new standards body — Visa CEO John Philip
Coghlan at a security conference in October, and Mastercard’s
chief risk officer Chris Thom this week.
Disclaimer:The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.
This content is not provided by any company mentioned in this article. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any such company. CardRatings.com does not review every company or every offer available on the market.
Published (Modified )