BAKU, Azerbaijan, June 3. Mastercard is actively using artificial intelligence in its activities, Mastercard's General Director for Azerbaijan and Türkiye Avşar Gürdal told Trend.
"Our entire infrastructure is built on models that operate on artificial infrastructure," he said.
Gürdal also pointed to the recent acquisition of Brighterion, a company that builds and develops models for business decisions using artificial intelligence.
"We are currently using it to detect fraud in the backbone of our network," he explained.
Regarding the transaction process, Gürdal stressed that Mastercard's system determines the nature of a transaction and decides whether to approve or reject it based on artificial intelligence analysis.
"We also generate assessments for issuers and acquirers to help them make transaction routing decisions," he added.
Furthermore, Gürdal emphasized the role of Mastercard Advisors, which collaborates with its members to use artificial intelligence models for business decisions such as credit risk underwriting and cross-selling mechanisms.
"Artificial intelligence has long been an important part of our design and strategy," Gürdal added.
The CEO also expressed the company's intention to increase the number of projects, particularly with partner banks, in the coming months and years.
To note, Mastercard is an international payment system that provides financial services, including credit, debit, and prepaid cards.
It allows cardholders to make cashless payments at millions of points of sale around the world. Mastercard also provides technology solutions to banks, merchants, and other financial institutions.
Mastercard cards are accepted in many countries and are used for a wide range of transactions, including in-store purchases, online transactions, cash withdrawals from ATMs, and other financial transactions.