Silver Tail Systems and MasterCard Join Forces to Secure Digital Payments for E-Commerce Merchants

I am thrilled to announce that MasterCard Worldwide and Silver Tail Systems have established a new relationship that enables ecommerce merchants to leverage web-session intelligence technology to help combat online fraud. In 2011 we saw ecommerce cybercrime surge at the Navigation Layer, and it continues to evolve in ways that traditional tools cannot always fully address.

According to the 2011 Identity Fraud Survey Report, new account fraud, in which accounts are opened without the victim’s knowledge, is harder to detect and is the most likely to severely impact the victims. The report stated that this cost victims $17B in 2010 alone. Additionally, the mean consumer out-of-pocket cost due to identity fraud increased 63% from $387 in 2009 to $631 per incident in 2010.

Transaction monitoring is critical, but behavioral analysis at both the user and population level has become even more so. Fraudsters are shifting their focus to attack the Navigation Layer of websites, where transactions take place. The ability to distinguish malicious activity from normal behavior in real time during the shopping experience is the key to protecting merchants, and in turn, consumers.

This alliance between Silver Tail Systems and MasterCard is the first of its kind. Not only will it enhance the security parameters for digital commerce, it will set the standard for the industry’s other financial networks in the fight against cybercrime. Together, we are helping to ensure that organizations are better equipped with the latest technology to spot malware or robotic (“bots”) attacks on their online payments systems.

As today’s eCommerce transactions reach record levels, both merchants and consumers are focused on identifying the safest and smartest ways to conduct online transactions. We are thrilled to lead the charge in reducing fraud for online merchants withone of the most well-known payments technology companies in the world, and this relationship will truly take cyber security one step further.