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04/26/2022

Mastercard, Microsoft Debut Next-Gen ID Tech for Safer Online Shopping

PYMNTS.com

Mastercard and Microsoft Corp. have launched a refreshed identity solution designed to improve online shopping and detect digital fraud, the companies announced Monday (April 25).

Delivering a frictionless shopping experience is crucial as the eCommerce sector seeks to convert window shopping and price comparison visits to sales, the firms said.

While consumers like online shopping, cyberthieves are always seeking new ways to use those networks for theft. One emerging type of digital scam is known as first-party fraud, where an online purchase is made legitimately but later disputed. These schemes are estimated to cost businesses $50 billion globally.

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