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Federal bank ties up with Mastercard to transaction security

Mastercard is aligning with Federal Bank to provide an additional layer of security for digital transactions. The arrangement will offer identity check to the bank’s cardholders using Mastercard Identity Check, which is a global authentication program that uses the latest authentication standards of EMV 3D Secure to provide an additional layer of security for digital transactions and facilitate higher approval rates, improving the authentication experience for merchants, issuers, and cardholders. The facility decreases online shopping cart abandonment, reduces fraud, and improves conversion rates for eCommerce merchants. Shalini Warrier, COO of the bank said this new solution will provide a seamless experience and will find instant affinity among the bank’s Mastercard cardholders. Sujay Vasudevan, vice president, Cyber & Intelligence Solutions, South Asia, Mastercard, said Mastercard is committed to creating innovative payments solutions that deliver enhanced safety and security at every touchpoint, to enable simple, frictionless consumer experiences. Mastercard had announced the launch of its Fintech Express program in the Asia Pacific region in November.

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