Worldwide, 422 million people have been victims of some data filtration on the Internet and 22 percent of the shops have suffered some attempt or received attacks, the Visa Payment Processing firm reported.
The cost of the frauds is going up and is expected that by 2029 in Latin America and the Caribbean digital banks add about 3,700 million dollars, according to the company.
To make a purchase, by means The processing of the operation and the after -sales, said Leonardo Collado, leader of Visa Added Services for Latin America and the Caribbean.
In seconds, especially between the second and third step, cybercounts or now, artificial intelligence, can make a fraudulent operation that at the end of the day implies a loss of resources for consumers.
In less than five seconds, a fraudulent purchase is made and those five steps are when making a payment in what we have worked
said the expert.
Collado explained that in the first step, that of the interface, Visa integrates all sales channels (including online, physical and mobile store) and offers customers a fast service.
The second, fraud management, is elementary, here is when all the prevention for a consumer enter, includes those of cybersecurity supported by artificial intelligence (AI), which aims to make safe and friction transactions.
The following is the management of credentials, the company verifies that the consumer is effectively who performs the operation through various comparisons on consumption patterns and then the payment is made so that at the end, after a sale or purchase, business and people have no problem.
In 5 years, prevention avoided losses for 30 thousand MDD
In order to make everything safer Visa has invested more than $ 12 million in technology in the past five years, which seeks to reduce fraud and improve network security; Only from July 2023 to June 2024 it managed to prevent, together, 30 billion dollars of losses.
For 30 years we use AI to prevent all frauds, they are predictive models that help purchases be safe.
Collado also indicated that in Mexico there is a greater adoption of digital payments and operations with physical money, a battle that has been undertaken in the national financial system in recent years, it is necessary that it communicate in a more robust way to Consumers that the former are the same and safer than the latter.
“To increase digital payments, it may be a little more consumer education and also integrate new technologies. But this is a trajectory, it is an evolution and not a revolution … in Mexico we see success in the adoption of digital payments.
Today we work with our customers, banking, acquirers, emitters and also with the same consumer to educate them, it is a matter of time to see success more robust.
According to Visa, in two years 60 million mobile devices will have technology to make payments from the cell phone and from their perspective it is required that more and more businesses accept card payments or with the new media and reduce the use of cash .