Visa announced continued expansion of its global value-added services business with the addition of three new AI-powered risk and fraud prevention solutions. The new products, part of the end-to-end Visa Protect suite, are designed to reduce fraud across immediate account-to-account and card not present (CNP) payments, as well as transactions both on and off Visa?s network. Visa Protect is part of a broad suite of Visa value-added services that have grown to nearly 200 products, spanning five high-demand categories: Acceptance, Advisory, Issuing, Open Banking, and Risk and Identity.

To help clients navigate a growing number of complexities, Visa has combined decades of expertise and significant investments in both AI and fraud prevention, with $10 billion over the last five years alone in technology and innovation, to help reduce fraud and increase network security. This announcement focuses on three Visa Protect solutions that are intended to address client needs and utilize the company?s deep expertise in AI: Visa Deep Authorization (VDA): Developed to address challenges facing issuers as a result of increasingly sophisticated digital fraud, VDA is a new transaction risk scoring solution tailored to better manage CNP payments. Powered by a world-class deep learning recurrent neural network (RNN) model and petabytes of contextual data, VDA is designed to combat fraud without disrupting digital transaction experiences.

Expansion of Visa Advanced Authorization (VAA) and Visa Risk Manager (VRM) for non-Visa card payments: Visa?s extensive, AI-powered fraud risk management solutions are now network scheme agnostic, allowing issuers to simplify their fraud operations into a single fraud detection solution that help strengthen fraud protections while reducing costs. Real-Time, Account-to-Account Payment Protection: Visa?s first fraud prevention solution built specifically for immediate payments, including P2P digital wallets, account to account transactions, and central banks? instant payment systems. Powered by deep learning AI detection models, this new service provides a risk score in real time that helps financial institutions prevent fraud by automatically blocking bad transactions before they happen.

Each product will launch in the first half of 2024. Availability will vary by product and market.