MasterCard Infusing Artificial Intelligence into Credit Transactions

Fraudulent credit card transactions are a pressing concern among retailers, card issuers, and consumers alike. With a reported 31.8 million U.S. consumers experiencing credit card fraud in 2014 alone, sweeping changes have been put in place to thwart its devastating effects. Technology enhancements like EMV chip-enabled cards, fraud alerts from card issuers and banks, and dozens of no-cost credit monitoring services all work together to fight the ongoing issue of credit card fraud throughout the country. Despite good intentions, some consumers desire more from card issuers in accurately detecting – and halting – fraudulent activity on credit or debit cards. The majority of consumers can share at least one awkward moment when a credit card purchase was declined in error.