Mastercard teams with Riskified to reduce eCommerce fraud

Mastercard and Riskified have announced a partnership designed to help businesses increase eCommerce revenues while reducing fraud. 

It is hoped that the collaboration will provide company’s with a new innovative avenue to grow their online revenue, while alleviating the potential risk of fraud and instances of chargebacks. 

This partnership breaks new ground in the ecommerce fraud space by marrying insights from Mastercard’s world-leading cybersecurity products and solutions with Riskified’s extensive transaction and identity network.  

Kevin Sprake, Vice President, Global Channel Partnerships at Riskified said: “This global partnership with Mastercard highlights the measurable impact Riskified makes on merchant revenues and profitability. 

“We’re excited to work with Mastercard to empower merchants to continue investing in ecommerce to drive growth across the globe, and particularly in emerging markets where merchants have higher exposures to fraud and abuse.” 

If you want more information on how you can mitigate the risk of cyber attacks and scams affecting your business, FinTech Global produced a comprehensive guide, based on a report from Diligent. 

The report discusses the dramatic spike in cyber attacks on the government sector, and how best businesses can best combat them to buck the trend. 

As it stands, the number of attacks on the government sector is spiking massively, with an increase of 95% in the second half of 2022 compared to the same period in the previous year, as per Security Intelligence. 

Research from the CMMI Institute also asserts that up to 87% of executive leaders lack confidence in their organisation’s level of cybersecurity. 

This lack of knowledge, coupled with the rising tide of these cyber attacks mean that firm’s are now feeling the pressure to invest in tech that will both monitor and alleviate cyber risk. 

This thinking has led businesses to look introspectively at their cyber security needs, before when hunting for the latest in a wide array of cyber security options.

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