Mastercard announced a new AI suite to combat fraud across various payment methods. Mastercard’s offering, Scam Protect, combines its digital identity, biometric, AI and open banking capabilities to safeguard consumers from a wide spectrum of scams, from card-based and account-to-account payments to fraudulent account openings using fake or stolen identities. “Scammers are exploiting new technologies, making their deception and impersonation scams increasingly difficult for consumers to recognize,” said Chris Reid, Mastercard’s EVP of identity solutions. The first banks to use Mastercard’s AI-powered consumer fraud risk tools are in the UK, and include NatWest.
Mastercard Announces New AI Suite With Behavioral Biometrics to Fight Fraud
