Driving the future of payments and fraud prevention in a fast-changing mobility landscape

Full article available here as published in MobilityPlaza

Today’s fuel and mobility industry faces the critical challenge of balancing operational efficiency, ensuring robust security, and meeting the rising demand for seamless, adaptable payment solutions. In this transformative environment, we at The ai Corporation (ai), leverage over 27 years of expertise in retail fuel and mobility payments, and fraud management, to offer aiEazyFuel^® – a proven, white-labelled, cloud-based, end-to-end payment management platform designed specifically for energy companies, independent fuel card issuers, mobility companies, and banks. 

A payment platform that grows your business through open-loop payment acceptance

The B2B fleet and fuel card market has traditionally operated within closed-loop payment networks. However, the rapid evolution of digital payments and a growing demand for greater flexibility and convenience is creating the need for energy and mobility companies to consider adding open-loop value propositions to existing closed-loop cards. The challenge they face is doing this seamlessly and securely while providing ultimate convenience to their customers.

aiEazyFuel^® issues and processes closed-loop, open-loop, and hybrid fuel and mobility cards. The hybrid approach integrates the controls and flexibility of a closed-loop payment platform with the added benefits of open-loop capability, in a single-chip hybrid card that is PCI DSS compliant. We have partnered with Mastercard and Visa to enable aiEazyFuel^® hybrid cards to be used worldwide, allowing cross-border acceptance and accessibility to a broader range of merchant networks. This opens new revenue streams for fuel and fleet card issuers through EV charging points, tolling and other mobility services.

A payment issuing platform with integrated fraud protection

aiEazyFuel^® employs a multi-layered security approach - directly integrated with our proprietary fraud management solution aiRiskNet^®, each transaction is assessed in real-time to stop fraud.  The platform leverages the power of AI and machine learning with SmartScore^® and aiAutoPilot ML^®, and our in-house aiFraud Managed Services™ team manages the entire fraud operation. With 27 years of expertise in open-loop fraud prevention, we are trusted globally to seamlessly and securely protect you from traditional and evolving open-loop fraud vulnerabilities.

Automating fraud strategy management with aiAutoPilot ML^®

aiAutoPilot ML^® takes the complexity out of managing fraud detection by automating the evaluation and selection of the most effective rules and models. With roughly 10 minutes of manual effort daily, fraud managers receive optimised strategy updates, including new models and rules developed and tested by the AI tool. With single-click integration into aiRiskNet^®, fraud managers can quickly implement AI-driven updates, allowing cost savings and operational efficiency, giving your fraud management teams more time to focus on other strategic projects.

Behavioural profiling using machine learning technology

SmartScore^® employs machine learning to generate behavioural risk models, enhancing the precision of fraud detection while minimising false positives. SmartScore^® supports models built in a wide variety of machine learning frameworks, including support for custom models, providing complete flexibility for various scoring needs. These integrate seamlessly with the aiRiskNet^® fraud management platform, allowing for rapid deployment of new fraud detection models tackling new threats quickly.

aiFraud Managed Services™

A dedicated team of expert fraud strategy analysts will create a tailored fraud management strategy that aligns with your core business objectives.  By analysing your data and understanding your customer portfolio, products, and capabilities, we can develop a customised approach to manage all aspects of fraud in your business, allowing you to allocate resources to other priorities. By combining the expertise of dedicated trained teams leveraging the advanced machine learning capabilities of aiAutoPilot ML^® and SmartScore^®, we maximise fraud detection to protect your profitability.  Our fraud managers will design comprehensive rule strategies targeting key risk areas and specific data points. We work closely with your team, sharing our expertise through extensive in-house training to ensure lasting, impactful knowledge transfer. 

Rich data insights with aiSmartIntelligence^®

Using aiSmartIntelligence^®, our fraud teams monitor your fraud data and behaviours and react to them accordingly.  Monitoring critical behaviours in near real-time enables fast decision-making and quick fraud strategy adjustment. This helps our team detect new fraud trends and implement steps to mitigate fraudulent activity.

Secure and futureproof your fleet and mobility business today

The increase in sophisticated tactics employed by fraudsters has significantly affected payment fraud in the fleet and mobility industry. Legacy payment systems and fraud detection methods often fall short and cannot keep pace with the dynamic nature of fraudulent activities. This reality underscores the critical need for proactive, intelligent fraud prevention strategies and a payment system that supports this.