Visa Adds New AI Tools to Help Fight Digital Fraud on Payments
- Aim is to fight fraud in card-not-present, real-time payments
- Firm to open its fraud-detection tools to non-Visa payments
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Visa Inc. is adding three new AI-powered fraud-prevention tools to its suite of products for business clients as the credit-card giant uses the technology to improve security.
Among the tools, available to clients starting in the first half of the year, will be one that expands on Visa’s current artificial-intelligence technology that helps detect and block fraud in digital transactions where no credit card is present. Another will be for use in real-time account-to-account payments, Visa said in a statement Wednesday. The San Francisco-based company also plans to open its existing Visa Advanced Authorization and Visa Risk Manager products for payments that don’t use Visa cards.