MasterCard has rolled its IQ Series suite of solutions for Middle East and Africa businesses to minimize false payment.
The solution, which is developed to harness real-time insights and intelligence, empower card issuers and merchants to authorize transactions with increased accuracy and limit fraudulent activity.
Authorization IQ and Assurance IQ were the initial two products developed under the series.
Authorization IQ offers card issuers with segmented account spending insights to help them make more informed authorization decisions, while Assurance IQ allows the exchange of information from the merchant about the circumstances of a transaction.
MasterCard president of Middle East and Africa Raghu Malhotra said: "In today’s digital world, consumers are increasingly more aware about safety and convenience, therefore balancing the growing desire for greater security while maintaining the ease of making payments is important.
"Our IQ series leverages advanced technology and insights to help deliver consumers a convenient, uninterrupted checkout experience."