AI is creating efficiency and better security in the iGaming payments segment
The growing number of applications based on artificial intelligence (AI) that are being developed at high speed in different industries provides an idea of the impact of this technology in the context of payments. The use of AI tools for financial transactions is aimed at avoiding fraudulent processes and improving the customer experience, which can easily be applied in the iGaming industry.
The use of AI mechanisms or one of its branches in particular, such as machine learning, is becoming popular in very diverse areas of activity, and with varied applications. One of the sectors in which it is present is iGaming, where it has repercussions in both internal work and customer service. Among its uses is its application for payments.
AI has four major areas of use in payments: in reducing fraudulent payments and false positives, anti-money laundering, and in its use in conversational platforms. AI allows real-time analysis of payment data from the consumer, merchant, and device.
As a result, by studying the amount, transaction history, time, geographic location, type of transaction and IP address, the player’s consumption patterns are identified. It can then be determined whether he or she is following a usual transaction habit to evaluate the transaction and identify security risks in the operation.
Thus, AI-based systems have helped to stop fraudulent payments, benefiting consumers and favoring operators. For players, it has meant a safer payment experience. For online casino operators, it has ensured the approval of real transactions without incurring risks.