The new business client products are a part of the Visa Protect suite and are intended to lower fraud in both on- and off-Visa network transactions, as well as instantaneous account-to-account and card not present payments.

The massive payments company claims that, compared to 2022, it assisted in stopping $40 billion in fraudulent conduct last year.

To improve the management of CNP payments, a new transaction risk score tool called Visa Deep Authorization (VDA) has been introduced. With the help of petabytes of contextual data and deep learning AI risk models, VDA is made to fight fraud without interfering with online transactions.

In the meantime, issuers can streamline their fraud operations with a single solution thanks to the recent network scheme agnosticism of Visa Advanced Authorization (VAA) and Visa Risk Manager (VRM).

The company has now released its first fraud prevention technology designed especially for instant payments, such as account-to-account transfers, P2P digital wallets, and instant payment systems offered by central banks. The solution, which is powered by deep learning artificial intelligence detection models, gives financial institutions a real-time risk assessment by automatically preventing fraudulent transactions.
 

James Mirfin, Senior Vice President and Global Head of Risk and Identity Solutions at Visa, emphasizes, "Amidst the escalating volume and sophistication of digital fraud, Visa remains vigilant, enhancing our robust suite of risk and fraud solutions. We achieve this through our unparalleled technology innovation and expertise in AI, while also extending their effectiveness beyond the Visa network."