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
93%
of acquirers say their ratio of fraudulent transactions as a share of total transactions increased in the last 12 months
75%
of acquirers already use AI
75%
say AI is an “important” or the “most important” system they use to fight fraud
Please contact brighterionai@mastercard.com should you wish to speak to an AI expert or request a copy of any of our eBooks, white papers or to view one of our pre-recorded webinars.
