Mastercard has inked an agreement to acquire NuData Security, a global technology company helping businesses prevent online and mobile fraud using session and biometric indicators.
The Internet of Things is creating a more digitally-driven and digitally-connected world, with an estimated 50 billion smart devices to be in use across the globe by 2020. While such connectivity can create unparalleled convenience for consumers to pay how they want, when they want, it remains critically important to keep all transactions secure.
Mastercard will build on its commitment to drive greater protection in the digital space, integrating NuData to its already robust 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.
NuData’s flagship 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.
NuDetect analyzes 80 billion online interactions yearly and is trusted by some of the largest global brands in the world to verify users with their own natural behaviors while offering a great customer experience.
Terms of the agreement were not disclosed.