Mastercard continues to battle rising challenge of digital fraud

As businesses go digital, mitigating cybersecurity issues remains prime focus for the company

The ever-expanding digital payments industry has put the spotlight on cyber-related issues. Financial services major Mastercard acknowledges the problem and is focusing on mitigating digital fraud, which has been on the rise in India and the world as more and more people switch to digital transactions. 

“More than 70 per cent of the detected frauds are from digital transactions, which are 35 per cent of our volume. So, we’ve been focused on solving the digital fraud because that is the business which is growing at a faster pace,” said Ajay Bhalla, president, cyber and intelligence solutions, Mastercard. 

Mastercard recently launched an authentication