Mastercard announced that it has entered into an agreement to acquire NuData Security, a global technology company that helps businesses prevent online and mobile fraud using session and biometric indicators.
According to a press release, Mastercard is continuing its efforts to offer its customer base greater protection in digital space, integrating NuData into its already strong suite of fraud management and security products. With an estimated 50 billion smart devices in use around the world by 2020, it’s more important than ever to make sure consumers can make secure online transactions.
“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 flagship product — NuDetect — helps organizations form digital trust by identifying users based on their online interactions — behavior that can’t be mimicked or replicated by a third party. The information collected enables merchants and issuers to make near real-time authorization decisions.
“We’re excited to join the Mastercard family,” said Michel Giasson, chief executive officer at 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 deal were not disclosed.