Fraud will not pass

Fraud will not pass

Machine learning continues to take centre stage in fraud prevention for the payments industry. Mexico-based payments processor Mercadotecnia Ideas y Tecnologia (Marketing, Ideas and Technology – MIT) has partnered with UK-based Featurespace to help its 17,000 merchants prevent payments fraud, writes Paybefore (Banking Technology‘s sister publication).

Featurespace, which is entering the Latin American market for the first time, will provide MIT with real-time merchant monitoring and protection to prevent fraud and reduce chargebacks and false alerts.

MIT optimises and secures payment channels for merchants by facilitating the handling of card transactions across all sales channels. Featurespace’s real-time, machine-learning ARIC platform detects anomalies in individual behavior for fraud and risk management.

“The growth in fraud, as well as the sophisticated forms that attacks take, forces payments ecosystem participants to seek innovative and disruptive solutions to reduce fraud and make manual processes more efficient, without sacrificing customer experience,” says MIT CEO Juan Carlos Viramontes.

The ARIC platform from Featurespace will enable MIT to monitor risk across its merchant portfolio for increased fraud detection, reduced false positives and increased transaction acceptance.


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Comments
  • Carola Cruz 12 August, 2017 at 1514

    Interesante e inspiradora historia

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