Visa Inc (NYSE:V) has announced significant improvements to its security capabilities which will dramatically improve its ability to detect and prevent global electronic payments fraud. Upgrades to Visa's global processing platform - VisaNet - have allowed Visa to develop new fraud models that enhance the speed and accuracy with which Visa detects attempted payment card fraud.
This dramatic increase in fraud identification is the result of an enhancement to the underlying processing platform that powers Visa's Advanced Authorisation - an industry-leading security technology that analyses and scores every Visa transaction for its fraud potential.
A new operating system implemented earlier this year allows more information to be analysed at once and performs more complex processing functions in milliseconds. This provides Visa with a comprehensive view into the global payments system, leading to high levels of intelligence around spending patterns and improving the company's ability to detect and prevent fraud in near real-time.
As a result, Visa and financial institutions that issue electronic payments cards will be able to more finely target different types of fraud - even as they emerge - enabling issuers to better isolate fraudulent transactions from legitimate ones. The global improvements were made on all models evaluating Visa transactions.-PR
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