The data breaches, major and minor, that we’ve seen over the past few years aren’t going anywhere. Payment system and database hacks are, for now, basically inevitable. And that’s why Visa and MasterCard have both announced plans to expand their security features for online shopping.
The Wall Street Journal reports that the two largest credit card companies have this week both announced new initiatives launching this spring to protect shoppers (and merchants) from fraud and theft.
MasterCard frames their two-pronged approach as increasing “peace of mind.” One element is a program called MasterCard Safety Net. The company claims vaguely that Safety Net “provides an independent layer of security on top of the tools and policies of financial institutions, by monitoring and blocking specific transactions based on selected criteria.”
If that sounds like it might be inconvenient and/or creepy, MasterCard has apparently guessed that you feel that…
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