“Citi and U.S. Bank Mastercard cardholders will be the first to trial Agent Pay, a new service that allows AI agents to initiate and complete transactions on behalf of users. Agent Pay is designed to embed payments into the growing ecosystem of agentic AI, which are artificial intelligence tools that act independently to handle tasks…
Tag: MasterCard
Mastercard jumps into generative AI race with model it says can boost fraud detection by up to 300%
“Mastercard’s proprietary algorithm is trained on data from the roughly 125 billion transactions that go through the company’s card network annually. Bhalla said the new transaction decisioning technology from Mastercard can help financial institutions improve their fraud detection rates by 20%, on average. In some cases, though, the model has led to improvements in fraud…
Nine British Banks Sign Up to New AI Tool for Tackling Scams
Mastercard will help banks offer cryptocurrency trading
“Mastercard is launching a program to let financial institutions offer cryptocurrency trading to their clients. The payments giant will act as a “bridge” between Paxos, a crypto trading platform already used by PayPal, and banks. Mastercard’s program will handle regulatory compliance and security — two core reasons banks cite for avoiding the asset class. “There’s…
Inside Mastercard’s AI Architecture
“‘There are some things money can’t buy. For everything else there’s Mastercard’ But what makes Mastercard tick? The short answer: AI. Mastercard’s Identity Check uses machine vision to identify customers using biometric data. With the Identity Check feature, a fingerprint or eye blinking is enough to authenticate the payment.” Inside Mastercard’s AI Architecture