The power of today's market-ready AI to reduce transaction fraud
Discover how one of the most robust global network data sets is empowering transaction fraud detection
The global pandemic changed many things, including the way people shop and access services. With the intense focus on e-commerce, shoppers want instant, friction-free experiences. Mandatory account creation (24%), long complicated checkouts (17%) and false declines (4%) contribute to massive cart abandonment rates. Merchants lose sales and acquirers lose fees.
Meanwhile, increased online traffic provides opportunities for fraudsters who are focusing more of their energies on this lucrative market.
93%Acquirers who increased transaction fraud between 2020 and 2021 - PYMNTS.com |
$49BEstimated loss to payment fraud by 2030 - Nilson Report |
70%Average cart abandonment rate - Baymard Research |
While most financial institutions and merchants already use AI and ML for transaction fraud detection, they want more from their solutions. They want better data analytics, less fraud, fewer false positives and increased approvals.
In our ebook, The power of today’s market-ready AI to reduce transaction fraud, we introduce and explain how one of the most robust global network data sets is empowering transaction fraud detection
Mastercard’s Transaction Fraud Monitoring, built with Brighterion AI, is revolutionizing fraud prevention. This advanced market-ready AI model provides a lighter lift for customers than traditional solutions. Developed and trained with global anonymized and aggregated transaction data from across Mastercard’s global network, this turnkey solution is ready to prevent fraud – out of the box.
Read our ebook to learn how market-ready AI models:
- Are built to ensure explainability and transparency
- Are easy to implement and production-ready right away
- Have a low latency of 100-120 ms (cloud) and 10 ms (on-premise)
- Meet worldwide compliance regulations and are ready to deploy in any market
