LAHORE – Visa Inc has recently 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 anti-fraud models that enhance the speed and accuracy with which Visa detects attempted payment card fraud.
An analysis of past global transactions suggests Visa’s enhancements could help identify $1.5 billion in fraud, representing a 29 percent performance improvement from 2009. In particular, fraud detection rates on the riskiest transactions improved by 122 percent over the previous model.
