Artificial Intelligence at the changing face of Payment Fraud

A continuous strive towards making payment faster and easier is embracing technology innovation, like never before, which at the same time is creating newer risk exposures for frauds and money laundering. As technology evolves and new form & channel of payment emerge, it creates newer loop-hole for previously unknown pattern of fraud to sneak peek. Initiatives towards Faster & Easier payments are keeping financial industry on its toe to safeguard payments originated anywhere & anytime. Rising trend of P2P and m-commerce are fueling growth in Real-time Retail Payment Systems (RT-RPS). The growth has been encouraging, with 18 countries now having a'live' RT-RPS system in place.