Mastercard unleashes AI against card fraud

Mastercard has launched Account Intelligence Reissuance, an advanced fraud prevention tool designed to streamline the card reissuance process in the Eastern Europe, Middle East, and Africa (EEMEA) region

This new service uses Mastercard’s proprietary Artificial Intelligence (AI) and extensive network insights to evaluate the risk associated with compromised cards and provide AI-based guidance on whether they should be monitored or replaced.

Card fraud continues to cost issuers and merchants billions each year. To prevent further unauthorised use, issuers typically assess primary account numbers (PANs) for risk and reissue vulnerable cards. This manual approach is often time-consuming and expensive. Mastercard’s Account Intelligence Reissuance simplifies and automates this process, offering a more efficient solution for tackling both physical and digital card skimming.

“At Mastercard, we have developed a comprehensive portfolio of fraud products that offer valuable and advanced insights and data. We are delighted to expand our proposition with Account Intelligence Reissuance that goes one step further by allowing issuers to aggregate data, measure risk and prioritize the most compromised cards for reissuance. Powered by our world-class AI technology, this highly accurate solution will significantly enhance credit card fraud prevention and customer protection efforts across the industry,” said Selin Bahadirli, executive vice-president, Services, EEMEA, Mastercard.

With the rise of digital transactions and the emergence of new types of fraud, Mastercard has continued to advance its technologies to protect stakeholders at every point in the payment process. Its Decision Intelligence platform currently secures over 159 billion transactions annually, and with generative AI improvements, Mastercard enables issuers to more quickly and accurately analyse account, transaction, merchant, and device data to detect and stop fraud in real time.