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Mastercard has launched an innovative approach utilizing generative AI and graphical technology to significantly enhance the identification of stolen payment cards, doubling its detection rate and allowing for risk identification before cards are maliciously used. This technology has a profound impact on both online and brick-and-mortar retailers, helping to reduce fraud losses, improve transaction security, and enhance customer experience. By quickly scanning vast amounts of card data and transaction information, the system can identify new fraud patterns, predict and infer partial visible card information, reconstruct complete card details, promptly alerting banks and protecting cardholders against fraud.

Mastercard Inc. joins the generative AI race and has developed its own model to help numerous banks within its network detect fraud. The newly launched AI model, known as 'Decision Intelligence Pro', reportedly increases the fraud transaction detection rate by up to 300% compared to previous models. The model takes into account the cardholder's merchant history to assess whether a transaction aligns with their typical behavior patterns, completing the entire process in approximately 50 milliseconds.

Mastercard has launched the AI shopping assistant 'Shopping Muse' based on the personalized platform Dynamic Yield. This service transforms consumer requests through dialogue and provides personalized gift suggestions. Shopping Muse will save time and enhance customer satisfaction, forming part of Mastercard's data and services strategy. Consumers can use non-traditional search terms, such as aesthetics and trends, to receive relevant product recommendations.