Payment Fraud at Record Lows Thanks to Analytics and AI, Visa Says

Despite a massive increase in online activity during the COVID-19 pandemic, fraud on the Visa payment network is at an all time low, the company says. One of the chief reasons for that success is a big investment in advanced analytics and AI. The world changed in March 2020, when many countries went into lockdowns to prevent the spread of the virus that causes COVID-19. As retail shops and other physical locations closed, people's attention turned to the Internet for school, work, and play. Since late 2019, the volume of e-commerce traffic has grown by 50%, according to Visa.