MasterCard has utilized Artificial Intelligence technology to develop a fraud detection services aimed at increasing transaction accuracy.

MasterCard is trialling a new Artificial Intelligence (AI) offering, Decision Intelligence, focusing on risk assessing and increasing services accuracy and detecting false transactions and declines.

AI-based algorithms were used to provide an existing score based on intelligent analysis that could help existing fraud mitigation offerings and allows for real-time approvals of genuine transactions. The smart technology would track how an account was used of a period of time, storing the information to detect a pattern in order to increase the likelihood of alerting to, and containing, abnormal behaviour.

The introduction of the new MasterCard service followed  the industry’s increased focused on payment protection and fraud combatting, with the new technology enabled to support MasterCard brands across all markets.