CCG Insights

Podcast

  • Podcast

Mastercard’s Chris Reid: Fighting Fraud Side by Side with Startups

Bank Fintech Fusion

Chris Reid, Executive Vice President, North America Services at Mastercard, turned heads at Money20/20 in November when he announced on stage that Mastercard is stopping 700,000 attacks every hour. “35% of all web traffic is fraudulent,” Reid said. “49% of all login attempts are fraudulent.” But despite these frightening numbers, Reid is upbeat about his work, and one of the things that cheers him up are the advances made by cybersecurity startups, whose participation in the industry he welcomes with open arms.

Mastercard has a strong history of engagement with the startup community, having acquired a number of startups over the years, and operating its global Start Path program that helps scale startups in Mastercard’s ecosystem. Reid spoke of his background in retail and the pressing need to always design financial products with security at the center.

As transactions steadily move to the digital realm, payment networks need to stop fraud in real time, as well as authenticate and identify customers in fractions of a second. Reid discussed these challenges and the huge field of opportunity in front of players in payments and cybersecurity. Despite the many threats he sees every day, Reid is upbeat about Mastercard and the many startups in its ecosystem, within and outside of the company’s ecosystem. Listen to the conversation between CCG Catalyst’s Philip Ryan and Chris Reid from CCG’s Bank-Fintech Fusion podcast below.

https://www.ccg-catalyst.com/wp-content/uploads/2020/03/2020-01-05-bff-s01e05-chris-reid-mastercard.mp3

Podcast: Play in new window | Download

  • CCG Catalyst CCG Catalyst
  • January 8, 2020
  • Cybersecurity, Digital, Mastercard, payments, startups

You Might Like These, Too

Webinar

Webinar: Consumer Research and Insights for Executives

Webcast

The 101 of Bank Integration Strategy

Embedded Finance
Tech Tuesday

Tech Tuesday: Embedded Finance

Webcast

What Does Real-time Really Mean?

Leaders in Bank Consulting

About CCG Catalyst
Latest Insights
CCG

PHOENIX • NEW YORK • LONDON • SINGAPORE

Phone: +1-480-744-2240  • Contact Us

© 2021 CCG CATALYST CONSULTING. Privacy Policy & Terms of Service.
Request a Call Back
Linkedin
Twitter
Subscribe
for Insights
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.

SAVE & ACCEPT
BANK
FINTECH
FUSION
  • About
  • Services
  • Insights
  • Fintech
  • Research
  • Contact
  • Press
  • Careers
  • Events
  • Terms
  • Privacy
Linkedin
Twitter