Mastercard hosts risk management knowledge-sharing session
Mastercard recently hosted 50 senior electronic payment industry representatives at its risk management workshop in Colombo.
The event is part of an ongoing series of knowledge-sharing sessions organised by Mastercard to share global learnings and gain local insights from market partners.
The day-long workshop saw Mastercard Customer Fraud Management South Asia Rajeev Kumar and Mastercard Customer Delivery Asia Pacific Christopher Lian share updates on customer fraud management and system releases for the upcoming quarter.
Kumar started his session with a review of the fraud landscape as well as an outline of Mastercard’s safety and security roadmap. He also shared updates on fraud attack vectors and revised standards of the Global Risk Management Programme and for Acquirer Fraud Loss Control Programmes.
Lian took the audience through the upcoming changes to the mandatory release, product code and interchange programmes as well as Mastercard Digital Enablement Service (MDES) and optional release services.
“Sri Lanka’s financial services industry is keen to adopt and roll out localized electronic payment technologies and solutions. At Mastercard, we support their commitment to innovation and have been working closely with them for about 30 years to bring world-class, secure electronic payment solutions to the market,” said Mastercard Country Manager Sri Lanka and the Maldives R.B. Santosh Kumar.
He further added, “Such informative forums enable us to collaborate with the key government and industry partners through sharing our global learnings and gaining their insights into the local market. Two of our renowned experts shed light on key payment security issues, vulnerabilities and innovative techniques to mitigate fraud at this recent risk management workshop.”
Appreciating the insights shared by the Mastercard representatives, the participants apprised them of marketspecific ground realities with regards to managing risk.