The world of Payment Systems has completely changed in the last years. PayPal has been a “veteran” in the industry, making things easier to other operators. Today tech giant such as Amazon or Apple entered the market to have a long term competitive advantage, while other start-ups such as Stripe and ShopKeep, are trying to penetrate the market, to compete with veterans (PayPal, VerifìFone and so on).
In real next future it is expected a yearly growth of the Payment Systems industry of over 8%, meaning 2.1 trillion dollars of return on commissions within 2023.
All this shows that these tools are widely spread: eWallet to pay goods and services is something we do everyday.
Of course, this sudden exploit of credit and debit cards attracts criminal world, inclined to use these systems to make online frauds and launder money.
A payment system has to guarantee the transaction and the payment to the two parties and prevent criminal organizations to steal log in information from customers and users. Verify the identity of the owners of accounts and control (in compliance with privacy policies) who use them, is necessary to avoid laundry processes or other kind of online frauds.
Unfraud protects all payment systems from suspect transactions and operations, before those are completed, avoiding any loss. With our system the behavioural patterns of fraudsters are automatically discovered by the Artificial Intelligence. Also, the system will continue learning and adapting to new frauds as long as they appear, se everything will be upgraded automatically, directly on cloud and so without maintenance.