MasterCard Rallies Merchants to Protect Consumer Data with a New Campaign
Friday, 13 January 2006
Building on a 40-year commitment to security leadership, MasterCard International yesterday launched a new groundbreaking program that provides incentives, tools, and education to help merchants better safeguard consumer data. The initiative is the latest element in MasterCard's long-running, holistic approach to protecting the payments system and advancing security in commerce.
“MasterCard understands that merchants are on the front lines of commerce. We're working collaboratively with merchants by providing them with practical content, tools and support to help protect their customers' data,” said Chris Thom, Chief Risk Officer, MasterCard International. “This is a critical part of our strategy for ensuring security in the payments system.”
Making Security Tools Cost-Effective
Primary among the components of the program is an initiative to implement global incentive pricing to make the MasterCard SecureCode™ program cost-effective for merchants. MasterCard SecureCode is an innovative security program that allows cardholders to enter a code known only to them and their card issuer when making purchases in the online environment.
Part of MasterCard SecureCode is a simple and effective method of securely collecting and processing cardholder authentication data at the merchant Web site. SecureCode links a cardholder to a specific online transaction much in the same way that a cardholder's signature does during an in-store payment transaction.
With MasterCard's global incentive pricing structure, online merchants that support MasterCard SecureCode will be eligible for lower rates comparable to those for face-to-face transactions — up to a 16 percent reduction.
Free Global Network Vulnerability Scans
To make it easier for merchants to understand, adopt and comply with the Payment Card Industry (PCI) Data Security Standard, MasterCard is also announcing the global availability of free network vulnerability scans for merchants. Scanning is one of the steps required for many merchants to achieve compliance with PCI. This offering by select companies will allow merchants to learn more about network vulnerabilities and how they can improve network security and achieve PCI compliance.