FinTech

Mastercard, Global Cyber Alliance Join Forces to Fight Cyber Attacks

digital payments

Mastercard, a technology company in the global payments industry and Global Cyber Alliance (GCA), an international cross-sector firm dedicated to eradicating cyber risk have joined forces to fight cyber-attacks with the launch of cyber security toolkit.

The president and CEO of Global Cyber Alliance, Philip Reitinger, said the tool which is available free online was designed to improve small and medium businesses with actionable guidance and tools on how to combat cyber-attacks.

According to the Organisation for Economic Co-operation and Development (OECD), Small businesses account for 99 per cent of businesses globally, including businesses in the US, EU, and the UK.

It reveals that 58 per cent of cyber-attacks which includes phishing, malware and ransomware are targeted against small business.

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In a joint statement by both companies, the GCA said Cybersecurity Toolkit will arm small business owners with basic security controls and guidance that will help them take inventory of their cyber-related assets, create and maintain strong passwords, perform backups of critical data and prevent phishing and viruses.

“Our focus is on producing a dynamic clearinghouse of operational tools that help small and medium businesses address risk and improve their cybersecurity posture, leveraging the deep expertise of our network of global partners, such as Mastercard, and the experiences of actual GCA toolkit users,” Reitinger said.

Ron Green, chief security officer of Mastercard added that, “every day, we are committed to developing new and better ways to keep payments safe – especially for small businesses, the lifeblood of any economy.

“By partnering with the Global Cyber Alliance, we’re helping entrepreneurs and business owners to better protect themselves. In that way, they can stay focused on what they do best, running and growing their business,” he said.

The firms promised to expand the Cybersecurity Toolkit to help other sectors address the changing cyber threat landscape before the end of the year.