Visa Introduces Innovative Fraud Prevention Technology Utilizing Artificial Intelligence

Visa Inc. is driving out bad actors from the ecosystem through its use of artificial intelligence (AI) to enhance security measures and expand its suite of solutions for business clients. The company has announced three new fraud-prevention technologies that will help stop $40 billion worth of fraudulent activity, nearly doubling its efforts from the previous year.

One of these solutions uses Visa’s existing AI technology to detect and prevent fraud in digital transactions where no credit card is physically present. This solution will be available to clients in the first half of the year. Another technology will be used for real-time account-to-account payments, as announced by Visa on Wednesday. Additionally, the company aims to accept payments without Visa cards through its current Visa Advanced Authorization and Visa Risk Manager solutions.

Antony Cahill, global head of value-added services at Visa, highlighted the importance of driving out bad actors from the ecosystem through these new technologies. PayPal Holdings Inc., a competitor of Visa, is also offering a risk-detection tool powered by AI to help banks identify and prevent customers from sending money to fraudsters. Mastercard Inc., another competitor, is using AI to provide a personalized online shopping experience for customers through its Venmo product.

Crypto.com is rewarding Visa cardholders with Apple products as an incentive for using its services, further strengthening security measures and improving the overall experience for business clients and consumers alike.

By Aiden Johnson

As a content writer at newspoip.com, I have a passion for crafting engaging and informative articles that captivate readers. With a keen eye for detail and a knack for storytelling, I strive to deliver content that not only informs but also entertains. My goal is to create compelling narratives that resonate with our audience and keep them coming back for more. Whether I'm delving into the latest news topics or exploring in-depth features, I am dedicated to producing high-quality content that informs, inspires, and sparks curiosity.

Leave a Reply