Mastercard and Network International launch new AI fraud-prevention solution

Mastercard and Network International launch new AI fraud-prevention solution

Cairo, Egypt – Mastercard today announced that it is partnering with Network International, the leading enabler of digital commerce across the Middle East and Africa, to address fraud, declines and chargebacks in order to reduce costs and risk for acquirers. Through the partnership, Network will launch Mastercard’s Brighterion Artificial Intelligence (AI) technology across the region, providing transaction fraud screening and merchant monitoring to acquirers and businesses.

According to the Nilson Report, payment card fraud losses are projected to hit $49 billion by 2030. Furthermore, 68% of card fraud losses in 2020 were related to transactions where cards were not physically present. McKinsey estimates that AI technologies could potentially deliver up to $1 trillion of additional value each year. With its sophisticated Artificial Intelligence, Brighterion learns the warning signs of fraud and alerts acquirers and merchants in real-time to prevent the completion of fraudulent transactions and costly chargebacks.

In 2019, Mastercard made a strategic $300 million investment as a cornerstone investor in Network, followed by an additional commitment towards developing innovative payment solutions. As part of this partnership, Mastercard supports Network via Brighterion’s AI technology, which combats the risk of fraud, reducing the operational overhead on acquirers and merchants while improving the experience