Mastercard has partnered with UAE-based Network International in order to launch an AI-based fraud prevention solution. Network International, which is an enabler of digital commerce across the Middle East and Africa, will deploy Mastercard’s Brighterion Artificial Intelligence (AI) technology across the region in order to prevent fraud, declines, and chargebacks while minimising costs and risk for acquirers.

The system is capable of providing transaction fraud screening and merchant monitoring to acquirers and businesses by leveraging artificial intelligence to learn the warning signs of fraud. If the system does detect a suspicious attempt, it can alert acquirers and merchants in real-time with the goal of preventing the completion of fraudulent transactions and chargebacks. The 2021 edition of the Nilson Report reveals that 68% of card fraud losses in 2020 were related to transactions where cards were not physically present.

Moreover, payment card fraud losses are expected to reach USD 49 billion by 2030. According to mckinsey. com, AI technologies could potentially deliver up to USD 1 trillion of additional value each year due to their fraud prevention capabilities.

In 2019, Mastercard invested USD 300 million in Network International and expressed its commitment to developing innovative payment solutions. In the company press release, Mastercard officials talked about the way they use new technologies to stay one step ahead of fraudsters and secure the full payments ecosystem. They also emphasised how Brighterion can support safer transactions and improve the experience of users.

Network International representatives revealed their intent to launch this new AI technology across the region in early 2023. They highlighted that Brighterion can complement the Network’s existing range of solutions to provide financial institutions, merchants, and their customers with secure and seamless processing. Network International’s partnership with Carrefour In February 2023, Network International worked with Carrefour in order to implement  PopID’s Face Pay face verification platform for payments service.

The Face Pay biometric solution can simplify the shopping and checkout experience of customers by making it faster, more convenient, and fraud proofed. At the same time, the new biometric service can also help customers receive personalised recommendations based on their preferences. Carrefour customers in selected areas in the UAE will now be able to purchase food, daily essentials, and other products using PopID’s Face Pay solution.

Consumers will have access to the service through the Carrefour website or mobile app. In order to pay using Face Pay, customers need to place all of their products in a cart and smile at the payment terminal. .