India’s payment industry transformed: Mastercard and PayU’s AI collaboration takes center stage

Mastercard and PayU, a leading digital financial services provider in India, have unveiled a strategic partnership to integrate Brighterion AI solutions into PayU’s payment infrastructure. This collaboration aims to bolster PayU’s payment business by enhancing approval rates, reducing fraud losses, and enriching customer experiences through advanced artificial intelligence (AI).

Key Aspects of the Collaboration

The deployment of Brighterion AI will enable PayU to leverage real-time fraud risk assessment and decision-making capabilities, both at the transaction level and across its merchant network. Brighterion AI employs machine learning (ML) to analyze data, providing actionable insights that help prevent fraud and optimize payment approvals. This technology can be utilized as a standalone solution or integrated with existing systems, offering flexibility to meet various operational needs.

With over 2,000 global companies already benefiting from Brighterion AI’s fraud prevention and risk management features, the platform is well-established in enhancing security and operational efficiency. The integration will facilitate PayU in investigating high-risk merchants more effectively and gaining deeper insights into its merchant portfolio through Brighterion’s Business Insights, Rules, and Case Management functionalities.

Statements from Key Executives

Gautam Aggarwal, Division President, South Asia at Mastercard, expressed enthusiasm about the partnership, stating, “Mastercard is thrilled to collaborate with PayU to bring Brighterion AI solutions to India as we continue to enhance our offerings to our customers by leveraging advanced AI and ML capabilities. This initiative will help in delivering smarter and more inclusive payment solutions that drive business and economic growth in the country.”

Anirban Mukherjee, CEO of PayU, also commented on the significance of the partnership: “The future of secure payments lies in innovation, and at PayU, we are proud to collaborate with Mastercard to introduce Brighterion AI solutions to India. This collaboration reflects our commitment to leveraging the latest technology, enhancing fraud prevention, and building trust by delivering an unmatched level of security and efficiency in digital transactions for our merchants and customers. This collaboration will significantly bolster PayU’s AI and ML capabilities, paving the way for even more innovative and advanced payment solutions.”

Impact and Future Prospects

This strategic alliance between Mastercard and PayU underscores Mastercard’s commitment to advancing the payment industry with cutting-edge AI solutions, while simultaneously enhancing PayU’s offerings to merchants and consumers. By integrating Brighterion AI, both organizations aim to set a new standard for secure and efficient digital payments in India, fostering a more robust and innovative payment ecosystem.