Mastercard has launched Account Intelligence Reissuance, an AI-driven tool designed to support card issuers in the Eastern Europe, Middle East, and Africa (EEMEA) region with managing card reissuance more efficiently and reducing fraud-related losses.
The service uses Mastercard’s proprietary AI and network data to evaluate the risk associated with compromised cards.
It provides automated recommendations on which cards should be monitored or replaced, aiming to streamline a traditionally manual and costly process.
Card fraud remains a significant challenge for issuers and merchants, often requiring the replacement of large volumes of payment cards following data breaches or other compromises.
The new tool supports both physical and digital card skimming scenarios and enables issuers to sort primary account numbers (PANs) based on risk more precisely.
“At Mastercard, we have developed a comprehensive portfolio of fraud products that offer valuable and advanced insights and data,”
said Selin Bahadirli, Executive Vice President, Services, EEMEA, Mastercard.
“We are delighted to expand our proposition with Account Intelligence Reissuance that goes one step further by allowing issuers to aggregate data, measure risk and prioritise the most compromised cards for reissuance.”
The service builds on Mastercard’s existing Decision Intelligence capabilities, which monitor 159 billion transactions annually to identify suspicious activity.
Recent generative AI upgrades to its fraud detection systems have improved real-time analysis of account, transaction, merchant, and device data.
Mastercard is also developing AI solutions at its Centre for Advanced AI and Cyber Technology in Dubai, launched in partnership with the UAE government.
The centre focuses on building regional AI expertise and tools aimed at detecting cyber threats, data breaches, and fraud.
The Account Intelligence Reissuance service is expected to expand to Asia Pacific, North America, and Latin America later in the year.
Featured image credit: Edited by Fintech News Middle East, based on image by mohammadhridoy12 via Freepik
