Internet Association of Fintech Services
Our participants consist of online enterprises engaged in the facilitation and management of user payments. We are committed to fostering seamless communication among these entities and furnishing them with cutting-edge tools to mitigate their operational costs.
During the global online payment process, certain challenges arise, accounting for approximately 10% of their turnover. These include customers abusing chargebacks and unscrupulous intermediaries misappropriating funds from their merchants.
Our endeavor focuses on facilitating the exchange of information regarding such entities among participants to prevent financial losses and reduce expenses. We have devised innovative mechanisms to automate the information exchange process, thereby reducing losses to around 3%, enhancing the efficiency and resilience of our partners in the online payment sphere.
artificial
intelligence
Artificial intelligence has the capability to analyze vast volumes of data, while also drawing analogies. Leveraging this ability, AI can forecast responses to queries with a probability of accuracy approaching 100%. Consequently, by harnessing the data continuously amassed from our partners, we can assess the likelihood of chargebacks or fraudulent transactions. Currently, we are actively refining algorithms and advancing AI training. In the future, we will extend the opportunity to our partners to access the probability percentage of issues pertaining to their users.
