Visa Inc. has adapted the fraud scoring tool that it uses to vet card-not-present transactions to aid government agencies and private businesses with corporate card accounts.
The San Francisco payments network plans to announce on Wednesday the enhancement to its IntelliLink Compliance Management tool. The update, Visa said, will help managers keep their employees honest, while cutting down on the amount of time managers spend checking up on purchases.
Individual companies input all of their policies into Visa's system. Transactions are flagged when they fall outside the parameters an organization has set. The system's accuracy improves as more transactions are scored. "Let's say I normally travel domestically, and all of a sudden I buy a ticket to go to Europe," said Rafael De la Vega, Visa's head of global commercial products. "That would be an example of a score that would be flagged."
Visa has tested the technology for roughly a year, De la Vega said.
Barclays PLC and other issuers have already signed on for Visa's system. This "is an important addition to our product portfolio and a complement to the services we are already offering that help companies streamline operations," said Dennis Bauer, Barclays' managing director of global payment solutions. "This service is available today and we expect it will generate considerable value for our customers."
