Visa Protect for Account-to-Account Payments Case Study

This case study details the collaboration between Visa and Pay.UK in a pilot program aimed at enhancing fraud detection for account-to-account payments in the UK. Pay.UK, responsible for the retail interbank payment systems, processed a significant volume of transactions in 2023, highlighting the prevalence of authorized push payment (APP) scams. The pilot involved Visa analyzing a large dataset of historical transactions using artificial intelligence and machine learning to improve fraud detection capabilities. The results indicated that Visa's solution achieved a 40% increase in fraud detection effectiveness, identifying 54% of fraudulent transactions that had previously passed through existing fraud detection systems. The study emphasizes the importance of innovation and collaboration in combating fraud, with the potential to prevent substantial financial losses from APP scams. Visa Protect for Account-to-Account Payments is positioned as a scalable solution that leverages AI to enhance security across payment networks.