Mastercard, the premier technology company in the payment industry, has launched ‘Account Intelligence Reissuance’, a cutting-edge fraud prevention service designed to enhance the card reissuance process in the EEMEA region.
By leveraging its proprietary Artificial Intelligence (AI) technology and network purview, this advanced solution offers AI-driven actionable recommendations about which cards are at risk and need to be replaced or monitored.
Each year, card fraud causes significant financial loss for card issuers and merchants. They often sort primary account numbers (PANs) based on risk level and reissue their compromised cards to prevent further unauthorized transactions, which is expensive and needs manual intervention.
In response to both physical and digital card skimming, Mastercard brings ‘Account Intelligence Reissuance’ service to streamline and automate the process, strengthening fraud prevention across the region.
“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.”
As the digital economy evolves and new fraud types emerge, Mastercard remains committed to enhancing its capabilities to protect its customers and consumers at all stages of the payment lifecycle.
Mastercard’s Decision Intelligence capabilities protect its customers and cardholders from fraud across Mastercard’s 159 billion transactions per year. The GenAI enhancements have enabled issuers to assess account, purchase, merchant and device information faster, making it smoother to identify fraud in real time.
Furthermore, Mastercard is also leveraging AI through its Center for Advanced AI and Cyber Technology in Dubai, established in collaboration with the UAE’s Artificial Intelligence, Digital Economy and Remote Work Applications Office.
By harnessing the company’s technical knowledge and expertise, the initiative seeks to enhance AI capabilities and readiness in the region. The advanced AI solutions developed at the center play a crucial role in detecting cyberattacks, data breaches and fraud, making the digital ecosystem safer for governments, banks, merchants and consumers.
