Mastercard Acquires RiskRecon for cybersecurity capabilities

Mastercard has acquired RiskRecon, which is a provider of artificial intelligence (AI) and data analytics solutions.

In its press release, MasterCard said that in an evolving digital world, cybercrime is a pertinent threat to business. Large-scale data breaches and ransomware attacks place billions of records at risk each year, jeopardizing consumer trust. In the past year, Mastercard has acquired seven companies.

“The innovations from the talented team at RiskRecon will further accelerate our suite of cyber solutions designed to help financial institutions, merchants and governments secure their digital assets,” said Ajay Bhalla, President of Cyber and Intelligence for Mastercard.

With the help of RiskRecon’s scanning and technology, organisations can manage cyber risks and better safeguard critical intellectual property and consumer and payments data.

Terms of the agreement were not disclosed. The transaction, which is anticipated to close in the first quarter of 2020, is subject to customary closing conditions.