Vendo Releases New AI-Powered Risk Tool

Vendo Releases New AI-Powered Risk Tool

BARCELONA — IPSP payment processor Vendo today released its new artificial intelligence-powered risk tool.

The tool has been in the works for more than three years and is now being rolled out to Vendo's partners.

With the implementation of the new Visa rules this past summer, this tool could not have come at a better time, said Thierry Arrondo, Vendo's managing director.

"When we started researching the possibility of developing this AI powered risk tool we could not have foreseen how timely it would be to our partners. AI is the future of billing and we are happy we are on the forefront of this movement,” Arrondo said.

The AI risk management tool uses machine learning to better detect fraudulent transactions, he said. The tool uses massive amounts of data to train the AI to better spot which transactions to block and which to accept.

The use of AI tools is beneficial to the entire industry but Vendo knows it is a hard concept to understand, said Debora Xavier of Vendo's marketing department.

"When I was introduced to the new AI powered risk tool I was impressed by the concept, but I had tons of questions as to how the system works,” Xavier said. “Especially on how it uses the information that is fed into it. It works by programming itself to identify patterns. In other words, it learns.

“We’re used to humans doing all of the programming,” she said. “But the old risk tools scrub too hard because they aren’t that smart so they err on the side of safety. Identifying risky transactions is very complex. That’s exactly why we need machine learning to do it.”

Vendo is planning future events to introduce the industry to this new tool and how it works. For more information, email partner@vendoservices.com.

Related:  

Copyright © 2024 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Canadian Law Professor: Proposed Age Verification Bill 'Will Make Things Worse'

Leading Canadian newspaper The Globe and Mail this week published an op-ed written by a legal scholar outlining fundamental issues with the Conservative-backed age verification bill currently making its way through Parliament.

UK Labour Government Confirms it Will Continue Baroness-Led 'Porn Review'

The U.K. Labour government of Prime Minister Keir Starmer has confirmed it will continue the controversial full review of British pornography laws ordered by former Tory Prime Minister Rishi Sunak in July 2023.

AEBN Publishes Popular Searches for July and August

AEBN has released the top search terms for the months of July and August from its straight and gay theaters in all 50 states and the District of Columbia.

SWR Data Survey Probes Concerns About Political Attacks on Industry

SWR Data, an adult-sector market research firm led by industry veterans Mike Stabile and MelRose Michaels, has released data from its upcoming 2024 State of the Creator report, illustrating creators’ concerns about political attacks on the industry.

FSC Urges SCOTUS to Strike Down 'Unconstitutional' Texas Age Verification Law

The Free Speech Coalition (FSC) urged the U.S. Supreme Court through a brief filed Monday to strike down Texas’ age verification law as unconstitutional.

Japanese Manga Industry Hit by Credit Card Companies' Anti-Porn Restrictions

Japanese manga retailers are reporting pressure from multinational credit card companies — many based in the U.S. and targeted by anti-porn religious conservatives — to censor their content if they wish to maintain their current payment processing arrangements.

Netherlands Government Continues Porn Probe Following Abuse Allegations

The Dutch government plans to continue investigating the local porn industry in the Netherlands, following a series of abuse allegations involving photographer and self-styled “model scout” Daniël van der W.

Clips4Sale Releases '20 Years of Fetish' Data Survey

Clips4Sale (C4S) has released a report based on 20 years of data and analysis to show how kink and fetish tastes have changed since the site began.

Grooby, Yanks Ink Website Management Deal

Grooby will begin managing Yanks.com under a new company, Blue.xxx.

Australian Government's Social Media Access Proposal Endorses Porn-Stigmatizing Report

The Australian Labor government led by Prime Minister Albanese recently announced its intention to introduce legislation this year “to enforce a minimum age for access to social media and other relevant digital platforms,” stating the upcoming proposal would be based on a recent report that uses stigmatizing language to characterize all adult content.

Show More