Visa and FireEye are planning to co-develop tools and services designed to help merchants and payment card issuers protect against cyber attacks targeting payment data, the two companies said Wednesday.
According to a joint announcement, the companies will create a Community Threat Intelligence (CTI) offering that will combine threat information from both firms in order to help stakeholders detect and respond to cyber attacks targeting their IT and payment infrastructure.
Under the partnership, FireEye will operate a web-based exchange to enable participants to share knowledge and intelligence on attacks targeting the ecosystem. Additionally, the companies plan to offer tools that will provide greater cyber intelligence and enhanced threat monitoring.
According to Rich Stegina, VP, Technology Alliance Partners at FireEye, Visa is looking to reduce the fraudulent rates by utiltizing FireEye products and services from its Mandiant division.
“Many data compromises have similar attack patterns reinforcing the importance of collective knowledge sharing to help merchants prepare and monitor for known threats,” the announcement explained.“Enhanced monitoring of malicious attacks and suspicious payment activity will help in alerting merchants of potential compromises. Identifying these data compromises earlier means fewer stolen accounts and greater protection for their customers.
“The threat environment for merchants is more hostile than we’ve ever seen — attack groups focused exclusively on stealing consumer data are continuously expanding their operations and employing new techniques,” said FireEye CEO David DeWalt. “It’s a daunting prospect for any merchant whose business could collapse if they lose customer trust.”
Contacted by SecurityWeek, a FireEye spokesperson said pricing has not yet been set, but the offerings are planned to be launched by end of Q3 to merchants worldwide.
*Updated with scheduled availability