Increased risk spurs AI use for payments fraud prevention
As digital payments rise in this pandemic-influenced environment, fraud risk is growing dangerously high. With fraudsters taking advantage of increased transactions, acquirers are turning to artificial intelligence (AI), now the standard solution for preventing payments fraud.
To better understand how acquirers are using AI, Brighterion joined forces with PYMNTS.com to survey executives from leading acquiring banks. The resulting report tells how financial institutions are positioning themselves to fight fraud and reap the benefits of increased payment volumes and revenues from credit, debit and prepaid card use.
From fraud prevention to merchant monitoring, AI has proven to be the most effective tool for high transaction volume businesses.
Read the report to learn:
- The growing risk faced by acquirers
- How acquirers adopt AI: in-house or third party
- The upgrades or capabilities acquirers would like from AI systems