Karachi: Mastercard announced that it is partnering with Network International, leading enabler of digital commerce across Middle East and Africa to address fraud, declines and chargebacks in order to reduce costs and risk for acquirers. Through partnership, Network will launch Mastercard’s Brighterion Artificial Intelligence (AI) technology across region, providing transaction fraud screening and merchant monitoring to acquirers and businesses. According to Nilson Report, payment card fraud losses are projected to hit $ 49 billion by 2030. Furthermore, 68 percent of card fraud losses in 2020 were related to transactions where cards were not physically present.

Khalid Elgibali Division President Middle East and North Africa Mastercard said, “Brighterion Artificial Intelligence capabilities are helping to reduce fraud and merchant risk, leading to safer transactions and better consumer experience.”

Nandan Mer Group Chief Executive Officer Network International said, “Adding Brighterion to Network’s range of solutions allows us to enhance our ability to provide financial institutions, merchants and their customers with safe, secure and seamless processing.”

Published in The Daily National Courier, February, 11 2023

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