Mastercard Partners With Feedzai To Tackle Crypto Fraud: Report
Portfolio Pulse from Lekha Gupta
Mastercard Inc (NYSE:MA) has partnered with Feedzai to enhance its capabilities in combating crypto fraud using AI. The collaboration will integrate Feedzai with Mastercard's CipherTrace Armade platform, allowing banks to monitor transactions from over 6,000 crypto exchanges for fraudulent and suspicious activities. This initiative is part of Mastercard's effort to normalize crypto as a financial asset, subject to traditional regulatory frameworks. The company's data indicates that crypto transaction fraud is five times higher than that of fiat transactions. Despite this move, a Mastercard executive recently criticized the use of central bank digital currencies (CBDCs), citing a lack of justification for their widespread adoption. Mastercard's stock (MA) saw a slight increase of 0.12% to $400.80 in premarket trading.
November 20, 2023 | 1:16 pm
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POSITIVE IMPACT
Mastercard's partnership with Feedzai to tackle crypto fraud could enhance its reputation in security and compliance, potentially attracting more business in the crypto space.
The partnership with Feedzai is likely to be viewed positively by investors as it demonstrates Mastercard's commitment to security and regulatory compliance in the growing crypto market. This could lead to increased trust and potentially more business for Mastercard, positively impacting the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100