Visa rolls out new cybersecurity suite to combat emerging threats

Financial giant Visa has unveiled a new suit of products cybersecurity, accompanying the already existing Visa Payment Threat Intelligence. 

Launched at the Visa U.S. Security Summit 2019, the new cybersecurity capabilities are available to Visa clients at no extra cost or sign-up.

The products developed are to help the firm’s mission to “holistically protect the core components of the ecosystem – people, data and infrastructure.” 

Four solutions have been released as part of the suite: Visa Vital Signs, Visa Account Attack Intelligence, Visa Payment Threats Lab, Visa eCommerce Threat Disruption.

“Cybercriminals attempt to bypass traditional defenses by stealing credentials, harvesting data, obtaining privileged access, and attacking trusted third-party supply chains,” explained RL Prasad, senior vice president, payment system risk, Visa. 

“Visa’s new payment security capabilities combine payment and cyber intelligence, insights and learnings from breach investigations, and law enforcement engagement to help financial institutions and merchants solve the most critical security challenges.”

Visa Vital Signs monitors transactions and alerts financial institutions of potential fraudulent activity at ATMs and merchants that may indicate an ATM cashout attack. 

In order to limit financial losses for financial institutions, Visa can automatically step in to suspend malicious activity if fraudulent activity is identified.

Visa Account Attack Intelligence detects sophisticated enumeration patterns, eliminates false positives and alerts affected financial institutions and merchants before fraudulent transactions begin all through the use of machine learning technology.

Visa Payment Threats Lab acts almost as a sandbox enabling an environment to test a client’s processing, business logic and configuration settings to identify errors leading to potential vulnerabilities. 

Visa eCommerce Threat Disruption acts as a proprietary solution that scans the front-end of eCommerce websites for payment data skimming malware.