Worldline and Visa use data to improve fraud management

Worldline and Visa have announced a strategic partnership to deploy an advanced fraud management solution, based on artificial intelligence and data analysis. This technology, accessible via an API, aims to enhance payment security, while reducing operational costs for merchants and corporate customers. Adaptable to a variety of sectors, it promises effective fraud detection, providing a smoother, more secure payment environment for users.

FACTS

• A few days ago, Worldline announced a partnership with Visa Acceptance Solutions to launch an advanced data-driven fraud management solution.

• While the two players emphasize their expertise in the travel sector, and therefore the certain compatibility with airlines, hotels and others, they also assure us that their solution can be easily optimized for other sectors such as retail, gaming, etc.

• In concrete terms, this innovation is based on the Decision Manager solution from Cybersource (a Visa subsidiary), and will enable effective fraud detection through the use of data-driven information and artificial intelligence techniques.
• By connecting to Worldline via an API, companies will have access to the solution, which automatically identifies customer behavior.

• Worldline's fraud prevention expertise will also be strengthened by the analysis of billions of transactions.

• Thanks to the relevance of the analysis and anomaly detection model, the solution will enable a greater number of transactions to be accepted, while reducing fraud.

CHALLENGES

• Strengthening payment security : Finally, the two protagonists emphasize the importance of adopting a data-driven approach to combat sophisticated fraud. By using data and advanced technologies such as AI, Worldline and Visa will contribute to making transactions more secure, a major issue in maintaining the confidence of consumers and merchants alike.

• Lower operational costs: Fighting fraud requires specific skills and resources that merchants don't always have. By automating fraud management using artificial intelligence, companies can devote less time and resources to this task. This should enable them to focus more on their core business, while reducing the financial losses associated with fraud.

• Optimized customer experience: Thanks to more effective fraud detection, companies can offer a smoother, faster payment experience. Anti-fraud solutions are not always very effective, leading to the risk of false positives and a potential drop in customer satisfaction. The use of a large amount of data will enable fraud detection to be refined, and thus indirectly improve the customer experience by limiting errors.

MARKET PERSPECTIVE

• Artificial intelligence has become an indispensable tool in the fight against payment fraud. As fraudsters themselves have benefited from the rise of various AI models, it is becoming increasingly complicated to spot fraud. Industry leaders such as Worldline and Visa are therefore working not only to detect suspicious transactions, but also to anticipate new techniques.

• The latest is Swift, which a few days ago made official the launch of its own anomaly detection solution based on AI and the analysis of anonymized data. Like other players, Swift is embarking on a more proactive anti-fraud strategy, thanks to real-time detection enabled by AI.

• Visa is looking to invest further in data analysis with the creation of a new partnership. By teaming up with Analytic Partners, the American scheme aims to use the analytical capabilities of AI to provide companies with data analysis solutions to optimize marketing spend, quantify returns on investment and ultimately aid decision-making.