New payment security services to help defend against emerging and evolving threats targeting financial institutions and merchants
Visa announced a suite of innovative security capabilities to help prevent and disrupt payment fraud. The new payment security services and capabilities help protect the integrity of the payments ecosystem by detecting and disrupting fraud threats targeting financial institutions and merchants, as revealed at the Visa US Security Summit 2019, a forum bringing together payment industry experts from risk, business and operational departments of financial institutions, merchants, processors and other payment service providers.
The new capabilities are available to Visa clients at no additional cost or sign-up.
The new security capabilities add to existing protections and include:
- Visa Vital Signs – Actively monitors transactions and alerts financial institutions of potentially fraudulent activity at ATMs and merchants that may indicate an ATM cashout attack. To limit financial losses for financial institutions, Visa can automatically or in coordination with clients, step in to suspend malicious activity.
- Visa Account Attack Intelligence – Applies deep learning to Visa’s vast number of processed card-not-present transactions to identify financial institutions and merchants that hackers may be using to guess account numbers, expiration dates and security codes through automated testing. The machine learning technology detects sophisticated enumeration patterns, eliminates false positives, and alerts affected financial institutions and merchants before fraudulent transactions begin.
- Visa Payment Threats Lab – Creates an environment to test a client’s processing, business logic and configuration settings to identify errors leading to potential vulnerabilities. For example, Visa can verify if a financial institution is effectively validating cryptograms — dynamically generated codes unique to each transaction — for EMV chip transactions.
- Visa eCommerce Threat Disruption – A proprietary solution that proactively scans the front-end of eCommerce websites for payment data skimming malware. Identifying potential website compromises limits the amount of time malware might be present on a merchant website and significantly reduces exposure of customer and payment data.