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Visa and MasterCard launch cyber intelligence services

Visa and MasterCard launch cyber intelligence services

Visa and FireEye announced the launch of Visa Threat Intelligence, a cyber intelligence service, Powered by FireEye.

Tailored to the needs of the payments industry, this new service will deliver real-time

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Visa and MasterCard launch cyber intelligence services

threat information to merchants and issuers so they can quickly assess and act on the most critical cyber-attacks that could breach their payment systems.

Visa Threat Intelligence is available as part of a new global strategic partnership between Visa and FireEye. Beginning late 2015, subscribers will gain access to a powerful web portal that distills the latest proprietary cyber intelligence relevant to payment systems into actionable information, including timely alerts on malicious actors, methods, trends in cyber-attacks, and in-depth forensic analysis from recent data breaches.

“Each week, merchants and card issuers receive thousands of alerts about possible cyber-attacks, making it difficult to know which ones to focus on,” said Mark Nelsen, Senior Vice President of Risk Products and Business Intelligence, Visa Inc. “Visa Threat Intelligence removes the noise by assessing hundreds of threat indicators and serving-up the most important and timely information. Users can then isolate and address those threats that are the most pressing and potentially damaging to their business and customers.”

Similarly, MasterCard has brought its Safety Net technology, which taps into the card giant’s global network to help protect banks and payment processors from hackers, to Europe.

Launched in the US last year, Safety Net acts as an external layer of security on top of issuing banks’ own systems, making the most of MasterCard’s global view of transactions to identify potential fraud issues in real-time.

The firm will automatically enrol issuers for the service, which can take targeted measures – such as blocking specific transactions – to provide protective controls on an issuer’s behalf.

MasterCard says that it uses sophisticated algorithms and monitors different channels and geographies to provide the most appropriate level of support for each market and partner, adding new protection into the payment system without any disruptions to the network.

Ajay Bhalla, enterprise security solutions president, MasterCard, says: “With Safety Net, we are screening billions of transactions twenty four hours a day, seven days a week, protecting our issuers against events like a cash out attacks and misuse of payment accounts.”

The post Visa and MasterCard launch cyber intelligence services appeared first on Payments Cards & Mobile.

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