Mastercard Partners With Network International to Introduce new Artificial Intelligence Fraud Prevention Solution

In order to lower costs and risk for acquirers, Mastercard has teamed with Network International to address fraud, declines, and chargebacks.

Through the collaboration, Network will make available to acquirers and companies in the area Mastercard’s Brighterion Artificial Intelligence (AI) technology for transaction fraud screening and merchant monitoring.

Losses from credit card theft are anticipated to reach $49 billion by 2030, according to the Nilson Report. Furthermore, transactions where cards were not physically present accounted for 68% of card fraud losses in 2020. According to McKinsey, artificial intelligence technology may generate up to $1 trillion in value annually.

Brighterion’s sophisticated artificial intelligence recognizes the telltale indicators of fraud and instantly warns acquirers and merchants to stop fraudulent transactions and pricey chargebacks.

As a cornerstone investor in Network in 2019, Mastercard made a significant $300 million investment. This was followed by a second commitment to the creation of cutting-edge payment solutions. In accordance with this cooperation, Mastercard supports Network using Brighterion’s AI technology, which lowers the operational burden on acquirers and merchants while enhancing the consumer experience by minimizing the risk of fraud.

“At Mastercard, we deliver capabilities and services beyond card payments, employing the latest cutting-edge technology to stay ahead of fraudsters as we safeguard the complete payments ecosystem,” said Khalid Elgibali, Division President for the Middle East and North Africa at Mastercard. The artificial intelligence capabilities of Brighterion are assisting in lowering merchant risk and fraud, resulting in safer transactions and a better customer experience.

“We are thrilled to strengthen our cooperation with Mastercard and anticipate launching this ground-breaking new AI technology across the region early this year,” said Nandan Mer, Group Chief Executive Officer of Network International. We are now better able to offer safe, secure, and smooth processing to financial institutions, merchants, and their clients thanks to the addition of Brighterion to Network’s portfolio of products.