PURCHASE, N.Y.—Mastercard announced that it has entered into an agreement to acquire NuData Security, a global technology company that helps businesses prevent online and mobile fraud using session and biometric indicators.
Mastercard stated that it will build on its commitment to drive greater protection in the digital space, integrating NuData to its suite of fraud management and security products. The acquisition will also strengthen its efforts around device-level security and authentication, enabling near real-time collaboration between issuers, merchants and processors, the company said.
“Securing all payments today and tomorrow remains a top priority for Mastercard,” Ajay Bhalla, president of enterprise risk and security for Mastercard, told Street Insider. “The addition of NuData will build on our layered security strategy to safeguard each and every transaction across the globe. The combination of session and biometric information will provide even richer context around potential cyber and device-specific threats, enabling us to deliver even greater trust and peace of mind.”
NuData’s NuDetect product identifies authentic users from potential fraudsters based on their online, mobile app and smartphone interactions, flagging those that represent the highest risk. The technology assesses, scores and learns from each online or mobile transaction to enable merchants and issuers to make near real-time authorization decisions, Street Insider reported.