Have you ever wondered how your credit or mada card stays safe when you buy stuff online or swipe it at a store? Well, two big companies, Mastercard and Visa, have some super cool tricks up their sleeves to keep your money secure!
Imagine this: you’re buying your favorite game online or treating yourself to some new sneakers. You type in your card details and hit ‘buy’. But how do you know no one sneaky is trying to use your card without you knowing? That’s where Mastercard and Visa step in with their high-tech tools.
Mastercard
They are using something called Generative AI. It’s like a super smart detective that looks at all the transactions happening and spots anything fishy. If it sees something weird, like someone trying to use your card in a place you’ve never been, it raises the alarm and stops the bad guys in their tracks.
Visa
Well, Visa has its own smart tool too. Visa has actually been using some form of AI for the past 30 years!
Their current AI system quickly checks if a transaction is legit or not. So, when you buy something, it’s like having a super-fast bouncer at the door of your bank account. If everything checks out, you get the green light instantly. If not, it puts the brakes on before anything bad happens.
So, what does all this mean for you?
For starters, it means your money is safer than ever. With these clever AI tools on the lookout, you can shop online or swipe your card with confidence, knowing there’s a digital superhero watching over your transactions.
Plus, these smart systems learn and get even better over time. So, as sneaky fraudsters come up with new tricks, Mastercard and Visa’s tech keeps evolving to stay one step ahead. It’s like having a guardian angel for your wallet, always ready to protect your hard-earned cash.
And the best part? It’s all super easy and fast. No more waiting around for ages to see if your payment went through. With Mastercard and Visa’s new tools and security features, your transactions zip through in a flash, leaving you more time to enjoy your purchases and less time worrying about security.
But remember, even with all this cool tech, it’s still important to be careful! Keep an eye on your account, use strong passwords, and if anything ever seems off, don’t hesitate to reach out for help.
Sources:
https://abcnews.go.com/Technology/wireStory/ai-mastercard-expects-find-compromised-cards-quicker-criminals-110455488
https://usa.visa.com/visa-everywhere/blog/bdp/2023/09/13/30-years-of-1694624229357.html