We’re living in the Payments 3.0 era, in which unfettered innovation, enabled by sophisticated AI, ML and other technologies, is unlocking the power of payments data.
Unleash the power of payments data to detect fraudulent activity early.
Taking fraud prevention a step further, the payments technology provider can leverage third-party data to train the AI model continuously on new and historical fraud schemes used elsewhere. This allows it to recognize the same or similar scam attempts being perpetrated against your business.It’s difficult to get a realistic picture of payments performance working in a vacuum.
Take the example of payment declines: If benchmark data reveals your company’s decline rate is higher than the industry average, AI can analyze your customer data and determine what adjustments could be made to move the needle. For instance, AI may determine payments processed on a Friday rather than a Tuesday would significantly reduce declines for autopay customers.
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