Mastercard has partnered with digital commerce company Network International to introduce an Artificial Intelligence (AI) solution aimed at combating transaction fraud throughout the Middle East and Africa.
Network International will implement Mastercard’s Brighterion AI technology, specifically designed to address the increasing prevalence of fraud, transaction declines, and chargebacks, while also facilitating merchant monitoring and fraud screening.
The AI solution provides real-time fraud prevention and uses predictive methods to manage risks effectively through thorough screening. In 2019, Mastercard invested $300 million in Network International as a cornerstone investor and pledged to collaborate on developing payment solutions.
Khalid Elgibali, division president of Middle East and North Africa at Mastercard, noted, “Brighterion Artificial Intelligence capabilities are helping to reduce fraud and merchant risk, leading to safer transactions and a better consumer experience.”
Nandan Mer, group CEO at Network International, added, “We are thrilled to strengthen our partnership with Mastercard and look forward to launching this innovative new AI technology across the region early this year. Integrating Brighterion into Network’s suite of solutions will enhance our ability to provide financial institutions, merchants, and their customers with safe, secure, and seamless processing.”
Additionally, Mastercard has recently collaborated with Zoodpay to launch an installment card across the Eastern Europe, Middle East, and Africa (EEMEA) region.