Visa’s growing services business boosted with new AI-powered products

Visa, a leader in digital payments, announced the continued expansion of its global value-added services business with the addition of three new AI-powered risk and fraud prevention solutions. The new products, part of the end-toend Visa Protect suite, are designed to reduce fraud across immediate account-to-account and cardnot-present payments, as well as transactions both on and off Visa’s network.

Visa Protect is part of a broad suite of Visa value-added services that have grown to nearly 200 products, spanning five high-demand categories: Acceptance, Advisory, Issuing, Open Banking, and Protect. To help clients navigate a growing number of complexities, Visa has combined decades of expertise and significant investments in both AI and fraud prevention, with $10 billion over the last five years alone in technology and innovation, to help reduce fraud and increase network security.

“Digital payments go far beyond completing a sale — we are entering an era of modern commerce where winners move fast, AI is essential, experiences are flexible and security is native,” said Antony Cahill, global head of value-added services at Visa. “Businesses are looking for partners that can enable their ambitions to compete and win and we’re proud to be the trusted partner helping a growing number of clients do exactly that in today’s highly competitive environment.” Security and fraud prevention are fundamental to Visa. Last year, Visa helped block $40 billion in fraudulent activity, nearly double from the year prior. The latest announcement focuses on three Visa Protect solutions that are intended to address client needs and utilize the company’s deep expertise in AI:

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Expansion of Visa Advanced Authorization and Visa Risk Manager for non-Visa card payments: Visa’s extensive,

AI-powered fraud risk management solutions are now network scheme agnostic, allowing issuers to simplify their fraud operations into a single fraud detection solution that helps strengthen fraud protections while reducing costs.

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Visa Provisioning Intelligence: While tokenization is one of the most secure ways to transact, fraudsters use social engineering and other scams to illegitimately provision tokens and commit fraudulent transactions. VPI, an AI-based product, is designed to address this challenge and combat token fraud at its source by using machine learning to rate the likelihood of fraud for token provisioning requests.