India,United States : FLIPKART enters into partnership with Mastercard to adopt MDES.
Flipkart and Mastercard has entered into cooperation to adopt the Mastercard Digital Enablement Services (MDES) for Merchants for improved security during online payments.
The MDES solution has been created to offer card issuing banks with means to substitute the primary account number (PAN) numbers of Mastercard credit, debit or prepaid cards with secure digital tokens.
Mastercard executive vice-president of Digital Payment Products, James Anderson said: Our research indicates that security of payment and convenience are some of the key factors considered during online shopping by consumers.
Mastercard tokenisation will eliminate a significant hassle factor for consumers and offer enhanced security.
The aim of this collaboration is to cut down fraud on e-commerce channels as MDES blocks the transaction when a token compromise occurs.
The connection established between the tokens and the card/device in MDES can be broken in case of loss of a device or physical card compromise.
[c] 2018 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
|Printer friendly Cite/link Email Feedback|
|Date:||Mar 1, 2018|
|Previous Article:||Russian Federation : New guidelines for the development of the university.|
|Next Article:||: NIU "BelGU" initiated the creation of a collection of lilacs.|