The company also said that it will offer free network vulnerability scans for merchants under a new program to get merchants to adopt policies designed to protect consumer data.

"MasterCard understands that merchants are on the front lines of commerce," said Chris Thom, the company's chief risk officer, in a statement.

"We're working collaboratively with merchants by providing them with practical content, tools and support to help protect their customers' data," he said.

Under the program, merchants that use SecureCode will be eligible for discounted charges that are as much as 16 percent lower than the fees associated with face-to-face transactions, the company said.

SecureCode is a MasterCard service that lets merchants authenticate online customers by requiring them to enter a passcode known only to the cardholders and the issuing banks.