Mastercard Enhances Security of the Internet of Things with the Acquisition of NuData Security Inc.
March 29 2017 - 9:05AM
Business Wire
Mastercard (NYSE:MA) today announced it has entered into an
agreement to acquire NuData Security, a global technology company
that helps businesses prevent online and mobile fraud using session
and biometric indicators.
The Internet of Things is creating a more digitally-driven and
digitally-connected world, with an estimated 50 billion smart
devices to be in use across the globe by 2020. While such
connectivity can create unparalleled convenience for consumers to
pay how they want, when they want, it remains critically important
to keep all transactions secure.
Mastercard will build on its commitment to drive greater
protection in the digital space, integrating NuData to its already
robust suite of fraud management and security products. The
acquisition will also strengthen its efforts around device-level
security and authentication, enabling near real-time collaboration
between issuers, merchants and processors.
“Securing all payments today and tomorrow remains a top priority
for Mastercard,” said Ajay Bhalla, president of enterprise risk and
security for Mastercard. “The addition of NuData will build on our
layered security strategy to safeguard each and every transaction
across the globe. The combination of session and biometric
information will provide even richer context around potential cyber
and device-specific threats, enabling us to deliver even greater
trust and peace of mind.”
NuData’s flagship NuDetect product identifies authentic users
from potential fraudsters based on their online, mobile app and
smartphone interactions, flagging those that represent the highest
risk. The technology assesses, scores and learns from each online
or mobile transaction to enable merchants and issuers to make near
real-time authorization decisions.
“We’re excited to join the Mastercard family,” said Michel
Giasson, chief executive officer, NuData. “For nearly a decade,
we’ve worked to develop innovative solutions to help transform the
way banks and merchants digitally interact with consumers. Those
efforts will continue and accelerate through our collective
enhanced capabilities to secure the digital landscape, while
offering an enhanced user experience.”
Terms of the agreement were not disclosed.
About Mastercard
Mastercard (NYSE:MA), www.mastercard.com, is a technology
company in the global payments industry. We operate the world’s
fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in
more than 210 countries and territories. Mastercard products and
solutions make everyday commerce activities – such as shopping,
traveling, running a business and managing finances – easier, more
secure and more efficient for everyone. Follow us on Twitter
@MastercardNews, join the discussion on the Beyond the Transaction
Blog and subscribe for the latest news on the Engagement
Bureau.
About NuData Security
NuData Security is an award-winning passive biometrics and
behavioral analytics company. Their flagship product, NuDetect,
helps organizations form digital trust by identifying users based
on their online interactions - behavior that can't be mimicked or
replicated by a third party.
NuData believes good users deserve good online experiences and
brands deserve protection against abuse. NuDetect analyses hundreds
of device, location, passive biometric and behavioral signals to
build an ongoing digital identity. This analysis continuously
informs clients of fraud risk in real-time and gives them choices
about what actions to take even before the transaction.
NuDetect analyzes 80 billion online interactions yearly and is
trusted by some of the largest global brands in the world to verify
users with their own natural behaviors while offering a great
customer experience.
Forward-Looking Statements
This press release contains forward-looking statements pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. All statements other than statements of
historical facts may be forward-looking statements. When used in
this press release, the words “believe”, “expect”, “could”, “may”,
“would”, “will”, “trend” and similar words are intended to identify
forward-looking statements. Examples of forward-looking statements
include, but are not limited to, statements that relate to
Mastercard’s future prospects, developments and business
strategies, as well as Mastercard’s acquisition and operation of
NuData’s business. We caution you to not place undue reliance on
these forward-looking statements, as they speak only as of the date
they are made. Except for the company’s ongoing obligations under
the U.S. federal securities laws, the company does not intend to
update or otherwise revise the forward-looking information to
reflect actual results of operations, changes in financial
condition, changes in estimates, expectations or assumptions,
changes in general economic or industry conditions or other
circumstances arising and/or existing since the preparation of this
press release or to reflect the occurrence of any unanticipated
events.
Many factors and uncertainties relating to the proposed
transaction, our operations and our business environment, all of
which are difficult to predict and many of which are outside of our
control, influence whether any forward-looking statements can or
will be achieved. Any one of these factors could cause our actual
results or the impact of the acquisition to differ materially from
those expressed or implied in writing in any forward-looking
statements made by Mastercard or on its behalf. Such factors
related to the completion and impact of the acquisition include,
but are not limited to, the following:
- whether all necessary conditions will
be met, and
- whether the transaction will close on
agreed terms and in a timely manner.
For additional information on other factors related to
Mastercard’s overall business that could cause Mastercard’s actual
results to differ materially from expected results, please see the
company’s filings with the Securities and Exchange Commission,
including the company’s Annual Report on Form 10-K for the year
ended December 31, 2016 and any subsequent reports on Forms 10-Q
and 8-K.
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MastercardSeth Eisen, 914-249-3153seth.eisen@mastercard.com
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