Visa is readying its platform for major disruptions by adding artificial intelligence to its neural network so legitimate card transactions will be processed normally in case of a system outage.
Stand-In Processing, a service Visa provides to banks, has been renamed Visa Smarter STIP and now includes real-time AI to approve or decline transactions in case issuers’ systems go offline, Visa said in a Wednesday press release.
The enhanced service uses deep learning to analyze each cardholder’s past purchases — versus static card network rules — to determine whether to approve or decline transactions during any scheduled maintenance, power or connection outages, the release said.
Minus effective stand-in processing, up to 50% of cardholders’ transactions could be declined during a service outage, Visa said in the release.
“Consumers expect instant and uninterrupted access to their funds — failure to meet that expectation can be costly,” said Jack Forestell, Visa’s executive vice president and chief product officer, in the release.
