How market-ready AI solves today’s pressing acquirer fraud challenges
How market-ready AI solves today’s pressing acquirer fraud challenges
Acquirer fraud is complex, ranging from friendly fraud to merchant collusion. Ecommerce sales have exploded in the past few years accompanied by increased fraud. Nilson predicts credit card fraud losses of $408.5 billion between 2020 and 2030. Acquirers are looking for more accurate and effective solutions.
Today's market-ready AI is revolutionizing fraud detection. While acquirers are embracing AI to prevent transaction fraud there's still room for improvement. Models trained on robust global data sets prove to be more effective–increasing fraud detection 2-3x and approvals by as much as 7.4% above existing acquirer defenses. Merchant risk models are enabling fraud analysts to significantly reduce manual reviews and focus their investigation on the most risky cases.
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