BAKU, Azerbaijan, June 26
By Sadraddin Aghjayev - Trend:
Digitalization of cash payments has led to a sharp increase in hacker attacks against financial institutions and fraudulent activities against companies, MasterCard Country Manager for Azerbaijan Erdem Chakar told Trend.
According to Chakar, the main problem is the storage of card data in unverified sources and sites.
“Many users, making purchases online 'save their cards' for automatic payments in the future. However, the storage of card data may not always comply with international standards, and during a hacker attack, this data can be stolen. MasterCard offers payment operators its own system of secure storage of card data (Masterpass). A distinctive feature of the Masterpass solution is compliance with international standards and ensuring 100-percent protection of payments,” Chakar said.
MasterCard country manager noted that the company is carrying out a number of different activities in the field of securing non-cash payments, as well as funding industries involved in ensuring the protection of contactless payments.
“We, along with the Central Bank of Azerbaijan (CBA), conduct special trainings both for local banks and for the population of Azerbaijan as a whole,” he stressed.
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