AI Perspectives: Transaction Fraud

Account-to-account (A2A) payments, transactions that move funds directly from one account to another, became increasingly popular during the 2020 digital banking disruption. Consumers are buying more goods and services online, increasing the risk of transaction fraud. The challenge of detecting and preventing fraud is becoming much broader.

Digital wallets surpassed credit cards in 2022, becoming the leading payment method among U.S. consumers shopping online, totaling 32 percent of e-commerce transactions. In total, FIS reports, A2A payments accounted for US $525 billion in 2022 global e-commerce transactions, estimating the market will reach nearly US $8.5 trillion in 2026.

AI Perspectives: Transaction Fraud