Mastercard and digital commerce company, Network International, have collaborated to release an Artificial Intelligence (AI) solution fighting transaction fraud across the Middle East and Africa.
Network International will launch Mastercard’s Brighterion AI technology, which is designed to combat rising cases of fraud, declines, and chargebacks and enable merchant monitoring and fraud screening.
The AI technology offers real-time fraud prevention and employs predictive methods to reduce risks through screening.
Payments giant Mastercard invested $300 million in Network in 2019 as a cornerstone investor, and committed to developing payment solutions with the company.
Khalid Elgibali, division president of Middle East and North Africa at Mastercard, stated: “Brighterion Artificial Intelligence capabilities are helping to reduce fraud and merchant risk, leading to safer transactions and a better consumer experience.”
Nandan Mer, group chief executive officer at Network International, commented: “We are delighted to strengthen our partnership with Mastercard and expect to launch this revolutionary new AI technology across the region early this year. Adding Brighterion to Network’s range of solutions allows us to enhance our ability to provide financial institutions, merchants and their customers with safe, secure and seamless processing.”
Mastercard recently collaborated with Zoodpay to launch an installment card across the Eastern Europe, Middle East, and Africa (EEMEA) region.