Network International, a prominent facilitator of digital commerce across the Middle East and Africa, has broadened the reach of Mastercard’s innovative Brighterion fraud prevention solution, leveraging artificial intelligence (AI) capabilities, to encompass over 60,000 merchants. This strategic initiative between the two entities aims to fortify the payments industry by furnishing transaction fraud screening and merchant monitoring services to merchant acquirers and businesses.

Mastercard’s AI-powered Brighterion solution equips Network International with a formidable tool to safeguard itself, its merchants, and its customers against the escalating risks of fraud. Renowned for its speed and simplicity in deployment, Brighterion diligently monitors transactions for compliance, employing machine learning algorithms that continuously evolve to thwart fraudsters’ increasingly sophisticated tactics. Network International adopted the solution in 2023 to bolster fraud detection and substantially curtail losses within its acquiring ecosystem.

The collaborative efforts between the two companies commenced in 2019 with the shared objective of catalyzing the growth of digital payments in the Middle East and Africa. Since then, they have joined forces to introduce various initiatives across the region, including low-cost point-of-sale and e-commerce acceptance solutions, as well as offerings tailored for commercial, fintech, and banking partners seeking card issuance capabilities.

Mete Güney, Executive Vice President, of Services, EEMEA, Mastercard, highlighted the significance of leveraging AI to fortify digital trust, 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, emphasized the company’s dedication to ensuring a secure and seamless purchasing experience for merchants and consumers, 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.”

As per data from Cybersecurity Ventures, the annual cost of cybercrime is projected to reach $10.5 trillion by 2025, with ransomware damages alone estimated at $20 billion in 2021. Additionally, the Nilson Report predicts that card fraud worldwide will incur losses of $408 billion between 2020 and 2030. In light of these statistics, the adoption of AI-driven solutions for fraud prevention becomes increasingly imperative, with studies indicating that 72% of business executives view AI as a competitive advantage, and 92% of consumers trust biometric authentication methods powered by AI for secure payments, according to Mastercard’s Global Security Index.