PURCHASE, N.Y.â€“ Feb. 8, 2012.
MasterCard Worldwide and Silver Tail Systems, a leading provider of web session intelligence, announced today a new exclusive relationship that will focus on leveraging and creating innovative solutions to help combat online fraud.
The companiesâ€™ collective expertise will enable merchants to differentiate fraudsters from legitimate consumers in real-time during the online shopping experience.
With eCommerce transactions reaching record levels [*]
, both merchants and consumers benefit from identifying the safest and smartest ways to conduct online transactions.
By combining Silver Tail Systemsâ€™ technology with MasterCardâ€™s extensive payments experience and insights, merchants will be better equipped to spot malware or robotic (â€śbotsâ€ť) activity originating from personal computers or smart phones attacking their online payments systems.
â€śOnline fraud resulting from malware, viruses and criminal-controlled bots is a serious concern for both merchants and consumers,â€ť says Johan Gerber, Group Head, Global Network Products for MasterCard Worldwide. â€śWith the increased sophistication of these fraud attacks, merchants are finding it more difficult to distinguish between good customers and criminals. Our relationship with Silver Tail Systems allows us to extend beyond the traditional fraud detection methods and provide merchants with a strong defense against fraud, while improving the consumersâ€™ online experience.â€ť
â€śWe are excited to join forces with MasterCard to help reduce fraud for online merchants,â€ť says Tim Eades, CEO of Silver Tail Systems. â€śeCommerce merchants have broadened their focus to embrace the notion of customer interactions, not simply customer transactions. Smart phones, social networks, and app stores represent new catalysts that are forcing merchants to rethink customer interaction with their web presence. Cybercriminals are also exploiting these trends and traditional security tools may not be capable of keeping pace. We provide that granular level of visibility and security throughout consumersâ€™ entire online shopping experience, without requiring modification to the end userâ€™s device or the back-end website infrastructure.â€ť
â€śWeb-based navigation-centric solutions view the HTTP stream of a website and analyze in real time the traffic and Web sessions by user and IP addresses,â€ť says Avivah Litan, Vice President and Distinguished Analyst at Gartner Research. â€śThis method has been successfully used by Gartner clients to spot malware-based activity that shows up as abnormally quick navigation or navigation that doesnâ€™t follow normal human patterns and behavior. It has also been used successfully to identify fraud rings and to gain visibility into attacker patterns and behavior.â€ť
Through the new alliance, which is exclusive within the payments industry, MasterCard and Silver Tail Systems will immediately work together to bring innovative fraud solutions to online merchants in the U.S., while exploring future opportunities to expand the scope and reach of the relationship.
[*]* In 2011, U.S. retail e-commerce spending reached a record $161.5 billion, a 13-percent increase from 2010, according to comScore, which measures digital data.
MasterCard Worldwide : 09/02/2012