BusinessWire India
Mumbai (Maharashtra) [India], August 28: Mastercard and PayU, one of India's leading digital financial services providers, today announced a strategic collaboration to deploy Brighterion AI solutions within PayU's payment business in India. The collaboration is aimed at enhancing PayU's approval rates, cut fraud losses, enrich customer experiences, and attract more merchants through artificial intelligence (AI).
Brighterion AI is a platform that uses AI and machine learning (ML) to provide real-time insights and decisions from any data source. It helps acquirers, processors and payment service providers prevent fraud, increase approval rates and enhance customer experience by assessing the risk of transactions and merchants. Brighterion AI solutions can be cloud-hosted or on-premise, and can stand alone or complement existing rules. Currently, more than 2,000 companies worldwide use technology powered by Brighterion AI to protect against fraud and risk.
Brighterion AI solutions will enable real-time fraud risk assessment at both transaction and merchant levels for PayU. Furthermore, the solution will allow PayU to enhance its operational efficiency by investigating high-risk merchants and gaining deeper intelligence into its merchant portfolio through Brighterion's Business Insights, Rules and Case Management features.
"Mastercard is thrilled to collaborate with PayU to bring Brighterion AI solutions to India as we continue to enhance our offerings to our customers by leveraging advanced AI and ML capabilities. This initiative will help in delivering smarter and more inclusive payment solutions that drive business and economic growth in the country," said Gautam Aggarwal, Division President, South Asia at Mastercard.
This collaboration between Mastercard and PayU marks a significant milestone for both organizations, showcasing Mastercard's leadership in providing innovative and scalable AI solutions for the payment industry and enhancing PayU's value proposition for both merchants and consumers.
"The future of secure payments lies in innovation, and at PayU, we are proud to collaborate with Mastercard to introduce Brighterion AI solutions to India. This collaboration reflects our commitment to leveraging the latest technology, enhancing fraud prevention, and building trust by delivering an unmatched level of security and efficiency in digital transactions for our merchants and customers. This collaboration will significantly bolster PayU's AI and ML capabilities, paving the way for even more innovative and advanced payment solutions," said Anirban Mukherjee, CEO, PayU.
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