The PayVector payment processing gateway is in the new hands of Guildford, UK-based ai Corporation from Iridium Corporation. The PayVector gateway processes payments for 38,000 merchants & £2 billion transactions per year. The acquisition will bring together best-of-breed fraud prevention with multi-channel payment processing.
PayVector was founded in 2007 to offer a wide range of payment solutions using a next-generation processing platform, developed entirely in-house. PayVector supports all types of payments processing through multiple channels, including e-commerce, m-commerce, mail/telephone orders and cards. PayVector currently powers payment brands all over the world, including some of the largest payment providers in the UK.
Already fully integrated into the PayVector gateway, ai’s multi-dimensional fraud detection system is based on a self-service rules engine, acknowledged as one of the best in the world. It operates through user-defined rules and parameter mapping, supplemented by artificial intelligence and automated machine-learning techniques.
Founded in 1998, ai has a long and exciting heritage as one of the world’s leading companies in fraud and risk management.
ai’s solutions, include the newly released “state of the art” neural technology, which protects and enriches payments experiences for more than 100 banks, over three million multi-channel merchants and over 300 million consumer cardholders. ai also monitors in excess of 20 billion transactions and authorizations each year.
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