Elavon, Mastercard to collaborate on AI-powered fraud detection

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Elavon will work with Mastercard and its Brighterion AI unit to battle payment card fraud, the companies said in a Tuesday press release.

Atlanta-based Elavon will integrate Brighterion’s AI platform, which analyzes 100 billion transactions annually, into Elavon’s network to minimize fraud and manage risk, the release said.

The integration will extend to Elavon merchants in the U.S., Europe and Latin America, according to the release.

“The explosion of e-commerce has been matched with a rise in digital fraud, and AI has proven itself critical in managing the complexities of today’s evolving world,” said Ajay Bhalla, Mastercard’s president of cyber and intelligence, in the release.

The move comes a year after Mastercard rolled out AI Express, a service to develop tailored AI fraud solutions leveraging Brighterion, a San Francisco-based AI firm Mastercard acquired in 2017.

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Artificial intelligence Fraud prevention Fraud detection Elavon Mastercard