Network International, a leading facilitator of digital commerce across the Middle East and Africa has expanded the reach of Mastercard’s Brighterion fraud prevention solution, leveraging artificial intelligence (AI) technology, to over 60,000 merchants. This strategic collaboration aims to bolster the payments industry by providing advanced transaction fraud screening and merchant monitoring services.

Mastercard’s state-of-the-art AI capabilities empower Network International to safeguard its merchants and customers against the escalating risks of fraud in the digital landscape. The Brighterion solution, known for its agility and effectiveness, employs machine learning algorithms to continuously update and adapt to evolving fraud techniques. Network International adopted this solution in 2023 to enhance fraud detection and minimize losses across its acquiring ecosystem.

Mete Güney, Executive Vice President, of Services, EEMEA, Mastercard, emphasized the importance of AI in combatting fraud, stating, “With the rapid evolution of the digital economy, fraud and cyber threats have also increased. In line with its commitment to provide capabilities and services beyond payments, Mastercard is harnessing the power of AI to build trust in the digital ecosystem. Our state-of-the-art fraud solutions help Network International safeguard their business, protect transactions, and take a forward-looking approach to mitigate the risks of today and tomorrow.”

Sandeep Chouhan, Group Chief Operating Officer, Network International, reaffirmed the partnership’s significance in fortifying digital transactions, stating, “As the region’s leading payment solution provider, Network International works to create a safe and seamless purchase experience for merchants and consumers. We continue to explore the latest industry-leading technologies that enable us to secure digital transactions. With its wealth of expertise and best-in-class Fraud security measures, Mastercard is our trusted partner in reinforcing our defences.”

According to Cybersecurity Ventures, the annual cost of cybercrime is projected to reach $10.5 trillion by 2025, underlining the critical importance of robust fraud prevention measures. Moreover, the exponential growth of ransomware damages and card fraud underscores the urgency for advanced security solutions in the digital payments ecosystem.

A study by PwC highlights AI as a competitive advantage, with 72% of business executives recognizing its fundamental role in the future. Mastercard’s Global Security Index further underscores consumer trust in biometric authentication methods powered by AI for secure payments, indicating a growing reliance on innovative technologies to combat fraud in the digital age.