Visa Prevents $700 Million in Fraud with AI Technology

As new technology continues to emerge in payments, Visa announces its AI-powered real-time payment fraud monitoring solution Visa Advanced Authorization (VAA), has prevented over $714 million in fraud over the past year. Leveraging advanced neural network technology, Visa's VAA can assess over 500 risk attributes in milliseconds, providing real-time risk scores for all transactions across VisaNet. This breakthrough in fraud prevention not only showcases Visa's commitment to innovation but also addresses the evolving landscape of digital payments, protecting businesses and financial institutions from emerging threats like phishing schemes and account-based fraud. With plans to introduce its real-time payment fraud prevention service in Australia, Visa aims to empower businesses with rapid risk assessments, ensuring seamless card processing experiences while maintaining robust security measures. Stay tuned for more updates as Visa continues to lead the charge in making card processing safer and more secure than ever before.