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The Mastercard payment system announced that it has developed its own AI system, which, according to it, can increase the efficiency of fraud detection by 300%. This was reported by CNBC. The company told CNBC that its new advanced artificial intelligence model, Decision Intelligence Pro, will allow banks to better assess suspicious transactions on their […]
At the end of last week, the Antimonopoly Committee of Ukraine (AMCU) allowed payment companies Mastercard and Visa to reduce the level of domestic interbank fees. This was reported by the press service of the department. The rate cut applies to domestic interbank fees for consumer payment details. The relevant amendments are made to the […]
Visa Inc. and Mastercard Inc. are planning to increase the commission paid by many retailers when accepting credit and debit cards. Bloomberg reports. According to the publication, Visa will start charging additional fees in October for online transactions, and in April for commercial credit, debit, and payment cards, as well as for prepaid payments. According […]
Mastercard and Visa have decided to suspend their cooperation with Binance, a major cryptocurrency exchange that is facing problems due to international regulations. Companies obviously want to distance themselves from cryptocurrency markets. This was reported by Bloomberg. Starting in July, Viza stopped issuing new joint cards with Binance in Europe. Mastercard will also terminate all […]
International payment systems Visa and MasterCard plan to increase the interchange rate* to 0.9% starting July 1, 2023. Accordingly, the acquiring fee paid by businesses for each non-cash transaction to banks and payment systems will increase. This will entail hundreds of millions of hryvnias of additional costs for Ukrainian businesses per year. Ukrainian retailers are […]
The US Federal Trade Commission has ordered Mastercard to begin providing rival payment networks with the information they need to process debit card payments. In the proposed enforcement actions, the FTC said Mastercard allegedly violated a provision of the Dodd-Frank Act, known as the Durbin Amendment, by prohibiting merchants from transferring transactions through alternative networks. […]
MasterCard is preparing a new service for the premiere, with the help of which banking institutions will be able to quickly detect transactions in favor of suspicious crypto-markets in order to block them further. According to CNBC, CryptoSecure is based on the technology of blockchain startup CipherTrace, which MasterCard bought in 2021. Credit organizations will […]