Feb 3, 2024
Mastercard’s new anti-fraud AI has a success rate of up to 300%
Posted by Gemechu Taye in categories: business, finance, information science, robotics/AI
Mastercard has announced that it has developed an in-house generative AI to help combat fraud on its payment processing network.
Instead of relying on textual inputs, Mastercard’s algorithm uses a cardholder’s merchant visit history as a prompt to determine whether a transaction involves a business that the customer would likely visit. The algorithm generates pathways through Mastercard’s network, akin to heat-sensing radar, to provide a score as an answer.
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