Worldpay has agreed to acquire London-headquartered artificial intelligence-native fraud prevention platform Ravelin.
The implementation of the mentioned deal is expected to be completed during the first quarter of the current year. The acquisition of the artificial intelligence-native platform will complement the portfolio of payment technology and solutions of Worldpay and enable merchants to protect their business while accelerating growth. The relevant information is contained in a press release published by Worldpay on Tuesday, February 4.
Chief executive officer of the mentioned company Charles Drucker stated that in today’s online world, equipping merchants with next-generation artificial intelligence-powered fraud prevention products is vital. He also noted that Worldpay believes Ravelin’s technology and expertise will significantly enhance the firm’s overall value proposition to the marketplace.
The press release highlighted that Ravelin’s fraud prediction and prevention solutions for eCommerce merchants identify payment fraud, account takeover, return and refund abuse, promotion and voucher abuse, and marketplace fraud.
It is worth noting that against the background of the active development of advanced technologies, including artificial intelligence, the issue of cybersecurity is growing in urgency. Scammers have access to AI tools, which is why their activities have become more sophisticated. To counteract the corresponding threat in the virtual space, personal awareness of users is important. For example, an Internet search query such as how to know if my camera is hacked will allow anyone to get information about signs of unauthorized access to the device. Digital literacy is an effective tool for countering cybercrime.
