AI being used in payment fraud prevention for e-commerce

Fraugster, a German-Israeli payment security company, has launched a fraud prevention solution, Fraud Free Product, using artificial intelligence technology to detect cases of fraud. The product is is connected to the largest payment gateways, requiring no additional integration or setup for online merchants. Some of the world’s largest payment companies such as Ingenico ePayments, Wirecard and Credorax are already successfully using the product.