Current Affairs - Business - Discussion

American multinational financial services corporation, Mastercard has launched a next-generation, mobile-first authentication solution, called "Identity Check Express" that will help customers to do uninterrupted secured transactions while shopping online. The new card payment feature was showcased in New Delhi at the Global Mastercard Cybersecurity Summit 2019, held for the 1st time in India. As per the Mastercard's analysis, up to 20% of mobile e-commerce transactions are interrupted mid-way. The present rules to verify identity online are time-consuming which led to the shoppers away from a merchant's website due to the issues such as consumers being redirected to a third website to complete the payment process or mobile network fluctuations. The Identity Check Express combines the new age technology, including device intelligence and behavioural biometrics, with the latest EMV 3-D Secure and FIDO authentication standards will eliminate unnecessary friction and enhance the security of online transactions.