Visa launched Visa Provisioning Intelligence, an AI-based product designed to combat token fraud at its source.
Available as a value-added service for clients, VPI uses machine learning to rate the likelihood of fraud for token provisioning requests, helping financial institutions prevent fraud in a targeted way and enable more seamless and secure transactions for Visa cardholders.
Tokenization is a powerful fraud-fighting technology pioneered by that helps protect consumers' account information from bad actors by replacing account numbers with a unique code.
Tokens may be illegitimately provisioned to bad actors, and Visa found that token provisioning fraud losses reached an estimated $450M globally in 2022 alone.
VPI is a real-time fraud propensity score between 1 and 99 provided to issuers for each token provision request.
VPI uses a segment-level supervised machine learning model to identify patterns in past token requests across device, e-commerce and card-on-file tokens to help predict the probability of token provisioning fraud.
In an age where most of our financial lives exist digitally, Visa remains focused on enhancing the security of its network and providing clients with advanced technologies to ensure customer data is protected wherever transactions take place.
VPI is now available to clients globally as a part of Visa's suite of value-added services.
This Cyber News was published on www.helpnetsecurity.com. Publication date: Wed, 13 Dec 2023 16:43:04 +0000