Fighting fraud is a lot harder online, and a lot harder for merchants and consumers, as card-not-present transactions become the preferred method of malfeasance.
In one recent announcement, payments provider TSYS and real-time learning technology platform Featurespace said they were joining forces to offer fraud prevention tools. The first product, the TSYS Foresight ScoreSM with Featurespace, utilizes machine learning and other initiatives to pinpoint cyberattacks tied to transaction fraud.