Overview
Jewel Paymentech is a leading provider of payment products, services, and technologies with a focus on combating fraud, money laundering, and other illicit activities. With the aim of making commerce safer for everyone, everywhere, Jewel Paymentech offers end-to-end solutions that enable businesses to manage merchants, mitigate risks, and enhance fraud prevention and detection using artificial intelligence (AI) tools. By leveraging AI technology, Jewel Paymentech enhances the precision and accuracy of risk prevention, making it easier for businesses to stay ahead of fraudsters. Let's explore some key features and use cases of Jewel Paymentech's AI tool.
Key Features
Cloud-Based Real-Time Processing: Jewel Paymentech's AI tool operates through a cloud-based platform, enabling real-time processing of data for efficient risk management and fraud prevention.
Fraudulent Application Identification: The AI tool uses advanced algorithms to identify and flag fraudulent applications from the onset, minimizing the risk of onboarding potentially malicious merchants.
Merchant Monitoring: The AI tool monitors merchant websites for misbehavior, such as selling illegal goods or engaging in deceptive marketing practices. It also scans merchants' social platforms and provides predictive alerts for chargebacks based on negative customer sentiment.
Merchant Controls: Jewel Paymentech's AI tool proactively detects and prevents fraud by leveraging a combination of business rules, neural scoring, and technology that enables oversight of merchant-level fraud. It presents fraud data in a visually representative manner, making it easy to identify fraud patterns.
Use Cases
Merchant eKYC & Onboarding: Jewel Paymentech's AI tool digitizes the merchant due diligence process, streamlining workflows and reducing the turnaround time for onboarding merchants. It offers eKYC modules for various payment channels, including point-of-sale (POS), mobile point-of-sale (mPOS), QR code, and mobile apps.
Fraud Prevention: The AI tool plays a crucial role in preventing fraud by identifying fraudulent applications from the beginning and continuously monitoring merchant activities. It helps businesses stay vigilant against fraudsters and protects them from financial losses.
Risk Management: By leveraging the power of AI, Jewel Paymentech enables businesses to enhance their risk management practices. The AI tool provides speed and scalability in merchant acquisition, allowing businesses to confidently take on new merchant types while keeping a close eye on risk factors.
Fraud Pattern Analysis: Jewel Paymentech's AI tool analyzes transaction data in real-time, identifying patterns and anomalies that may indicate fraudulent activities. This analysis helps businesses uncover emerging fraud trends and adjust their risk management strategies accordingly.
In conclusion, Jewel Paymentech's AI tool offers a comprehensive suite of features and functionalities to combat fraud, money laundering, and other illicit activities in the payment industry. By leveraging the power of artificial intelligence, businesses can enhance their risk management practices, protect themselves from financial losses, and create a safer environment for commerce globally.