| Term | Definition |
|---|---|
| SAFE |
SAFE or System to Avoid Fraud Effectively is a Mastercard initiative that requires banks to document cardholder claims of fraud. Similar to Visa's TC40, Banks must send a SAFE report to Mastercard that details each fraud claim made on Mastercard debit and credit cards. Mastercard can use this data to search for trends in fraud, identify problem banks and merchants, and inform efforts to reduce the level of fraud in the payments ecosystem. Read more >>> |
