Analysis of Secured Customer Authentication for MasterCard Security

This report provides an analysis of Secured Customer Authentication (SCA) with a focus on MasterCard. The objective is to review the concept of SCA, identify issues and challenges faced by financial institutions during online transactions, and analyze the rising importance of SCA to safeguard credit card information and maintain privacy. The approach includes reviewing literature, analyzing service provider-consumer relationships, and utilizing data analysis to provide strategic direction. The report also addresses the implications of the revised Payment Services Directive (PSD2) and the implementation of Strong Customer Authentication (SCA) in the European Economic Area (EEA) and the United Kingdom. Key outcomes include analysis of consumer protection rights and recommendations for online firms and merchants to effectively use SCA. The report concludes by emphasizing the importance of SCA in mitigating security threats and risks associated with online transactions, and includes references from various academic sources.

Secured Customer
Authentication (SCA)

Table of content:
• Introduction
• Aim and objective
• My approach
• What I produced
• The key outcome
• Recommendation and lesson leant
• Conclusion
• References

INTRODUCTION
The selected organisation for current project
work is MasterCard which is an American
multinational financial services corporation
headquartered in the MasterCard International
Global Headquarters in Purchase, New York.

Aim and objective
Objective
To review about the concept of the Secured Customer Authentication.
To identify the key issues and challenges faced by the financial institution
and other organisation while carrying out online transaction.
To analysis the rising need and importance of the Secured Customer
Authentication (SCA) to safeguard credit card information and maintaining
higher privacy during online financial transaction.

My approach
My approach and strategy to undertake and carry out the current project is based on
focused on the effective set of the accumulating literature regarding the implementation
of new regulation. As well as my working approach also comprises of the analysis the
service provider and service consumer relationship that is tend to be primarily focused
on the online transaction or physical shopping using cards (Credit/debit) that will be
affected as new regulation became effective (Cutajar, 2021).

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• Further, I have also made use of an effective data analysis process that
is based on providing strategic direction for the visa user along with
avoiding all customer concern faced regarding the use of new SCA
(Goode, 2021).
• The external stakeholders of the current project tend to comprises and
includes of the card issuers, merchants and acquirers on how they can
modify their strategy to help the end user in acclimatizing the new
technology.

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• Along with this, the use and implication of the some
Interorganizational strategies and approaches is also made
my me which are focus on managing business processes
across functional areas.
• The goal is to create synergies by leveraging the
innovation of building cross functional teams with cross
functional goals (Wandhöfer, 2021).

What I produced and set out to achieve
• The main focus and emphasis is on analysing about the concept
of the Secured Customer Authentication along with identifying
the key issues and challenges faced by the financial institution
and other organisation while carrying out online transaction
(Steennot and Guimarães, 2022).
• Along with this, the creation of the current project is based on
the issue of the revised Payment Services Directive (PSD2)
which has been put into the works for more than a decade, is
scheduled to go into force throughout Europe in the coming
months.

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Beside this, an implication about the analysis the rising need and
importance of the Secured Customer Authentication (SCA) to safeguard
credit card information and maintaining higher privacy during online
financial transaction is also based. Further, a review regarding the
effective implementation of Strong Customer Authentication (SCA),
which will apply to VISA in the European Economic Area (EEA) and
the United Kingdom following the Brexit transition period has been also
produced within the current project (Bruggink and Benevelli, 2021).

The key outcomes
The key outcome and finding of the current project tend to includes and
comprises of the analysis of the information about the consumer protection
rights of the customers that are being implicated and followed within the UK
who tend to make purchase of the product and services from the businesses
within the nation and from the country that are being the member of the
European Union.

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Thus, the finding of the current project is vital and
effective in supporting a positive impact on
MasterCard as it supports better undertaking about the
modification and changes made within the law
defining about the payment by the customers
(Terämaa, 2021).

Recommendation
• Based on findings of current project a recommendation for the online
firms and merchants can be made to ensure and have better use of the
SCA and should not be regarded as a barrier to conducting business
online (Pimentel, 2022).
• In addition to this another recommendation which is
suitable for the company is to seek the opportunity in
technological development by supporting more security
and authorization for customers.