Cyber crime, a threat to digital payments

Visakhapatnam: GITAM in partnership with Andhra Pradesh Electronics and Information Technological Agency (APEITA) hosted a Mastercard seminar on ‘Powering Digital India: Understanding the role of Payments Technology’ on the campus on Wednesday.

Mastercard, a global powerhouse on digital payments, is the authority to deliver a seminar on the most relevant and much needed topic, when India is taking great strides in the digital payments arena.

The seminar was inaugurated by Prof K Sivaramakrishna, Pro-Vice Chancellor, GITAM University, who highlighted the accolades that GITAM has achieved over the years.

The Senior Vice-President, Global Public Policy, Mastercard, Ravi Aurora, explained how the payment business works. With the increasing ubiquity of the mobile devices in the present era, the payment business is undergoing massive change and it is important to understand emerging payment technologies and role of Mastercard in enabling commerce and protecting the payment ecosystem, he explained.

The Vice-President, Software Engineering (Digital Payments), South Asia, Mastercard, Girish Khemani, discussed on emerging technologies such as artificial intelligence and blackchain  technology and their impact on FinTech. He also highlighted how Mastercard has adopted agile, micro services and latest technologies in the digital payments space.

The Director Regional Security, South Asia, Mastercard, Abhishek Kumar, elaborated on the biggest threat to digital payments, which is cybercrime and its impact to organisations. He highlighted the best practices adopted by the industry to increase cyber defence to help mitigate the threat. Leben Johnson, Coordinator FinTech Academy, organised the event.