Mastercard calls safety and security its top priority
The notice opens by saying safety is Mastercard's number one priority. It says that consumers, merchants, issuers, businesses and public sector organizations can have peace of mind that their safety and security is that priority, and that because there is no single fix for fraud Mastercard uses multiple layers of security. These passages state goals and an approach; they do not set out a specific standard, guarantee or remedy.
Details
Who
Mastercard
What it covers
Safety and security of consumers, merchants, issuers, businesses and public sector organizations
Why
Protect people connected to Mastercard from fraud and other threats
Supporting quotations
Safety is Mastercard's number one priority.
Whether you are a consumer, merchant, issuer, business, or a public sector organization, you can have peace of mind knowing that your safety and security is our number one priority
Mastercard remains at the forefront of innovation and security to stay one step ahead of criminals and keep you safe.
There is no silver bullet to fight fraud, so we use multiple layers of security to protect every transaction
Not stated here
The notice does not say how this priority is measured or what Mastercard owes anyone if a threat is not prevented.
Security & Safeguards · Company practice
Mastercard describes four layers of protection: prevent, identify, detect, experience
Mastercard says it operates at four layers to protect the payments system and its customers' businesses: Prevent (securing devices, data and networks across the industry), Identify (identity verification and authentication), Detect (monitoring transactions for fraud and cyber threats) and Experience (consumer experience, including $0 liability protection and replacing cards on file). Each layer is described in general terms.
Details
Who
Mastercard
What it covers
Payments system and Mastercard customers' businesses
What it does
Operates prevent, identify, detect and experience layers
Supporting quotations
We have implemented and operate at four layers to protect the payments system and our customer’s businesses:
Prevent: Securing devices, data and networks in a coordinated manner across the industry helps reduce the risk of fraud significantly.
Qualifications & exceptions
The layers are framed as protecting the payments system and Mastercard's customers' businesses, not cardholders directly.
Security & Safeguards · Company practice
Mastercard monitors transactions across its network to detect fraud and cyber threats
Mastercard says it uses its network and technologies to monitor transactions across the globe and identify transaction fraud, financial crime, crypto crime and cyber threats. It offers tools to financial institutions, merchants and other businesses, which it says include artificial intelligence tools that model and predict fraudulent scenarios, real-time fraud scoring at the point of sale, cryptocurrency intelligence and blockchain solutions, and cyber health analysis.
Details
Who
Mastercard
What it does
Monitors transactions to identify fraud, financial crime, crypto crime and cyber threats
Where
Across the globe
Supporting quotations
We leverage the power of our network and our technologies to monitor transactions across the globe and identify transaction fraud, financial crime, crypto crime, and cyber threats.
Our comprehensive suite of tools offered to financial institutions, merchants and other businesses can be tailored to their customer base and include everything from artificial intelligence tools designed to model and predict fraudulent scenarios, to real-time fraud scoring at the point of sale, cryptocurrency intelligence and blockchain solutions and cyber health analysis.
Qualifications & exceptions
The tools are offered to financial institutions, merchants and other businesses and can be tailored to their customer base.
Not stated here
This passage does not say which personal data the monitoring tools use.