MasterCard Has Debit Card Fraud Service In Wings

As doubts about existing contactless security procedures are running rampant, MasterCard is swooping to rollout early next year a realtime PIN-based debit card fraud detection program, according to a Computerworld story.

The story said MasterCard will use a proprietary risk-scoring model that will look at factors such as account spending, transaction histories and device-level activity to calculate the likelihood of fraud on an individual ATM transaction, such as if a card that in the past has been used only domestically were to be used in a large transaction in a foreign country. MasterCard has for years offered a similar fraud-detection capability for credit card and signature-based ATM transactions.