Mastercard to acquire NuData Security Inc.
Mastercard announced it integrate NuData to its suite of fraud management and security products and that the acquisition will also “strengthen its efforts around device-level security and authentication, enabling near real-time collaboration between issuers, merchants and processors”.
“Securing all payments today and tomorrow remains a top priority for Mastercard,” said Ajay Bhalla, president of enterprise risk and security for Mastercard. “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, according to NuData.
“We’re excited to join the Mastercard family,” said Michel Giasson, chief executive officer, NuData. “For nearly a decade, we’ve worked to develop innovative solutions to help transform the way banks and merchants digitally interact with consumers. Those efforts will continue and accelerate through our collective enhanced capabilities to secure the digital landscape, while offering an enhanced user experience.”
Terms of the agreement were not disclosed.