MasterCard talks usage of most advanced payment security technologies
BAKU, Azerbaijan, Nov. 13
By Sadraddin Aghjayev - Trend:
MasterCard uses the most modern technologies to ensure maximum security of payments (transactions), MasterCard's representative in Azerbaijan Erdem Chakar told Trend.
According to Chakar, due to the growth of non-cash payments, all transactions in MasterCard are being brought in line with international standards.
"Payments using cards should be used everywhere - on the Internet, in commerce, and transactions must be secure. All payments made using MasterCard cards are encrypted and tokenized," Chakar said.
In addition, he noted that fraudulent schemes and their number that are observed all over the world make up a small percentage of payments around the world.
"Non-cash funds are much safer than cash. You can lose cash, and if you lose your card or your card is stolen, then you can block the card with one call to the bank and the money will be saved, and the bank that issued your card will be responsible for their safety", Chakar said.
A MasterCard spokesman also said hacker groups are trying to target merchants and banks.
"However, the bank is a reliable source of funds storage. For example, our security standard of the payment card industry, which is used by banks, provides a complete guarantee of the safety of finances in bank accounts. In addition, several years ago we introduced MasterCard technology in Azerbaijan – Masterpass, which allows users to store their cards under MasterCard protection", Chakar stressed.
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