Mastercard bolsters cybersecurity with Baffin Bay Networks deal


Payment giant Mastercard has acquired Swedish cybersecurity platform Baffin Bay Networks to help businesses deal with increasingly challenging cyber attacks.

Baffin Bay Networks will add to Mastercard’s multi-layered approach to cybersecurity and help stop attacks.

The cloud-based CyberTech solution leverages AI technology to automatically filter and counteract malicious internet traffic.

To combat the rising level of malware, ransomware and other malicious activity, Mastercard plans to integrate its solutions into a single cyber service available to all its customers around the world. Its RiskRecon data analytics allows organisations to identify vulnerabilities in advance.

This new partnership gives its customers access to Baffin’s automated Threat Protection service, which will help stop attackers from penetrating or taking down cyber systems.

Commenting on the partnership, Mastercard president of cyber and intelligence Ajay Bhalla said, at “We see trust as central to securing the future of our digital world. The addition of Baffin Bay Network’s instantaneous, predictive and cloud-based, AI technology to our existing analytical capabilities will deliver a leading, singular cyber solution.

“This will enable us to provide our customers across the world with faster, smarter and more effective protection from cyber risk.”

Mastercard recently teamed up with payment processor PXP Financial and payments infrastructure platform Payall. The goal of the partnership is to deliver safe, compliant and efficient cross-border payments and international money transfers.

Yet another partnership from Mastercard this year was a deal with omnichannel payments firm DNA Payments to enhance its Click to Pay service. The Click to Pay feature is a simple and secure checkout experience giving consumers instant access to their preferred cards on every device, eliminating the need to manually enter card details or remember passwords.

Keep up with all the latest FinTech news here.

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