Mastercard Aims To Protect Canadian SMBs With RiskRecon Assessments


RiskRecon, a Mastercard firm, is offering complimentary cybersecurity assessments through the end of the year to assist Canadian small businesses in keeping their operations safe during the pandemic. Mastercard said in an announcement Monday (May 11) that many small businesses in the country are transitioning their activities to the web and encountering increased exposure to cyber threats as they contend with continuing social distancing requirements.

Sue Hutchison, senior vice president of product, digital and new payments for Mastercard in Canada, said in the announcement, “Small businesses are the lifeblood of our economy and now, more than ever, it’s vital that they be protected.” Hutchison continued, “Mastercard has a proud history of supporting small businesses in Canada and we’re building on that by providing free access to the resources small businesses need to safeguard their systems now, and for the future.”

The cyberhealth assessment of RiskRecon assists companies in finding and handling possible vulnerabilities in their systems. It lets small businesses stay ahead of online criminals so they can turn their attention to expanding their businesses by watching and coming across vulnerabilities early in lieu of combating expensive cyberattacks.

Small businesses will get constant cyberhealth assessments and actionable suggestions for bolstering cybersecurity via complimentary access to the My Cyber Risk offering and portal.

RiskRecon assists enterprise organizations in better understanding and taking action on their cybersecurity health by continually finding this digital footprint and “non-invasively” evaluating their security risk stance throughout 40 security barometers that cover “thousands of security checks.”

In December, news surfaced that Mastercard was buying artificial intelligence (AI) and analytics startup RiskRecon to speed up the development of cybersecurity offerings.

The president of cyber and intelligence for Mastercard, Ajay Bhalla, said at the time that “the innovations from the talented team at RiskRecon will further accelerate our suite of cyber solutions designed to help financial institutions, merchants and governments secure their digital assets.”



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.