Mastercard Digital Wellness Program to Enhance Transparency, Security and Choice for Online Shopping
07 June 2019 - 7:42PM
Business Wire
AI technology and suite of resources empowers
small and independent businesses, makes password-free, online
checkouts more secure for cardholders
Mastercard today launched the Mastercard Digital Wellness
program, a host of technologies and resources that enable all
businesses, especially small and independent merchants, to better
serve today’s digital-first consumer.
As part of this program, Mastercard will deploy EMVCo’s
specification for fast, click-to-pay check-out
for digital commerce. The specification replaces
laborious key-entry guest check-out with a consistent, simple and
secure guest checkout experience, no matter where a consumer shops
online, or which device or card they use.
“We launched Mastercard Digital Wellness today because we
believe that businesses shouldn’t have to sacrifice safety or
choice as they build the best experiences for their customers,”
said Jess Turner, executive vice president, Digital Payments and
Labs, North America, Mastercard. “Any changes to how we shop online
must deliver enhanced levels of security, transparency and
flexibility for everyone.”
According to a Deloitte study on small businesses in the U.S.,
enterprises that were more digitally advanced were four times more
likely to achieve revenue growth. Mastercard is bringing its
resources and knowledge of secure digital commerce to businesses
that form the backbone of the U.S. economy.
Merchants that enable the click-to-pay standard with Mastercard
will automatically get access to an added layer of security through
tokenization and NuData, a Mastercard artificial intelligence and
machine learning technology. NuData works with retailers around the
globe to help anticipate and prevent fraud by monitoring website
traffic changes, analyzing sudden changes in browser type, surfing
speed and time spent on web pages, allowing businesses to either
monitor further or stop access. During the 2018 holiday season,
NuData, helped businesses worldwide identify over 1 billion
irregular digital activities and stopped 99 percent of these
fraudulent attacks, saving them over $500 million.
Importantly, by implementing the Mastercard Digital Wellness
program, merchants will benefit from access to tokenization and
NuData for both streamlined guest check-out sales as well as their
card-on-file business.
Recent market analysis from Mastercard has identified key
opportunities for retailers to improve their customer experience.
Unease about online payment security and challenging user-account
creation experiences were pinpointed as the top reasons consumers
abandon a purchase before completion. As a result, shoppers are
often cautious of storing their card details with smaller, newer
merchants.
Businesses that enable the EMVCo click-to-pay specification with
Mastercard can streamline and secure their card-on-file and guest
check-out experiences. Mastercard cardholders will no longer be
required to enter a password before they pay online, and the suite
of products and services available in the Mastercard Digital
Wellness program will help to increase approval rates, lower fraud
and reduce PCI compliance burden. Mastercard is working with
payment processors and payment platforms such as Worldpay, Square,
Adyen, Mastercard Payment Gateway Services, and Stripe to make
these features available to more businesses more quickly.
“Expanding the availability of a secure, simple and consistent
ecommerce guest checkout experience to small businesses brings
great potential,” said Amy Zirkle, interim CEO, Electronic
Transactions Association (ETA). “We share Mastercard’s belief that
both the acquiring community and payment service providers play a
critical role in supporting how merchants connect to the
consumer.”
Mastercard Digital Wellness, a one-stop resource for all
things digital for small business:
In addition to the security capabilities of NuData and support
for the EMVCo standard, businesses that participate in the
Mastercard Digital Wellness program will get access to a diverse
set of resources and tools to protect and empower business owners.
It includes a cyber toolkit for small businesses to combat online
attacks, and access to the Cyber Readiness Program from the Cyber
Readiness Institute, an initiative designed to help organizations
educate their workforce on issues like phishing, authentication and
patching. Additional resources will be introduced over time,
providing business owners guidance how to manage and grow their
business as well.
Mastercard Digital Wellness will roll out first to all U.S.
businesses; the new click-to-pay checkout will be live for U.S.
cardholders and merchants during the third quarter of this
year.
About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a
technology company in the global payments industry. Our global
payments processing network connects consumers, financial
institutions, merchants, governments and businesses in more than
210 countries and territories. Mastercard products and
solutions make everyday commerce activities – such as shopping,
traveling, running a business and managing finances – easier, more
secure and more efficient for everyone. Follow us on
Twitter @MastercardNews, join the discussion on
the Beyond the Transaction
Blog and subscribe for the latest news on
the Engagement Bureau.
Mastercard Communications Contact
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190607005146/en/
Chaiti SenEmail: chaiti.sen@mastercard.comTel: 914.263.6542
MasterCard (NYSE:MA)
Historical Stock Chart
From Apr 2024 to May 2024
MasterCard (NYSE:MA)
Historical Stock Chart
From May 2023 to May 2024