MasterCard incentives may beef up transaction security

MasterCard International Wednesday announced that it is lowering transaction charges for merchants that use its SecureCode service to authenticate online customers.

The company also said that it will offer free network vulnerability scans for merchants under a new program to get merchants to adopt policies designed to protect consumer data.

"MasterCard understands that merchants are on the front lines of commerce," said Chris Thom, the company's chief risk officer, in a statement.

"We're working collaboratively with merchants by providing them with practical content, tools and support to help protect their customers' data," he said.

Under the program, merchants that use SecureCode will be eligible for discounted charges that are as much as 16 percent lower than the fees associated with face-to-face transactions, the company said.

SecureCode is a MasterCard service that lets merchants authenticate online customers by requiring them to enter a passcode known only to the cardholders and the issuing banks.

All that merchants need to do in order to be SecureCode-compliant is to install a "plug-in application" and ensure that their transaction processor also supports the program, according to a MasterCard description of the program.

SecureCode links a cardholder to a specific online transaction in much the same way that a signature does in the physical world, thereby reducing fraud and unauthorized cardholder chargebacks, the company said.

MasterCard also announced that it would offer free network vulnerability scans for any merchant that wants them. The scans will be performed on MasterCard's behalf by five security service providers.

Such scans are a requirement under the Payment Card Industry Data Security Standard mandated by MasterCard and Visa that went into effect last July.

The free scans are an attempt to "get merchants started on the right foot and getting started right away," said Dave Collet, a MasterCard spokesman. Under the agreement that MasterCard negotiated with the participating service providers, each merchant will get one free network scan, Collet added.

The offer expires June 30, according to the company Web site.

The scans will also be limited to one IP address per merchant, according to a source close to the effort who wants to remain anonymous.

The goal is to educate merchants -- especially the smaller ones -- on how such scans work and how to interpret the results, he added. Under the arrangement, each of the participating service providers will have a portal site that merchants can use to schedule a scan and access the results, he said.

"We are pleased to participate in this program," said Michael Petitti, senior vice president at Chicago-based AmbironTrustWave, one of the participating companies. "[It] provides merchants with the tools, resources and information to better secure credit card information and reduce the risk of fraud."

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Jaikumar Vijayan

Computerworld
Show Comments

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?