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AI for Seamless Cross-Border Transactions A New Era for Global Card Services

Author(s) Arunkumar Paramasivan
Country India
Abstract Artificial Intelligence (AI) is revolutionizing international payment systems, paving the way for faster, more secure, and cost-effective cross-border transactions. Traditional cross-border payment systems have been plagued by delays, high transaction fees, and complex regulatory challenges, often resulting in inefficient global card services. AI technologies, such as machine learning, natural language processing, and data analytics, are now enabling seamless and optimized payment processing by automating currency conversion, detecting fraud, and optimizing payment routing in real-time. These advancements ensure a smoother, quicker experience for consumers and businesses alike, reducing operational costs and increasing security.AI’s ability to process vast amounts of data allows it to identify and mitigate fraud risks, providing enhanced protection in the international payment landscape. The limitations of traditional systems, AI is not only improving the efficiency of global card services but is also making cross-border payments more accessible and transparent, ultimately benefiting consumers worldwide. The future of cross-border transactions promises a more seamless and interconnected global economy, driven by AI’s transformative potential.
Keywords Artificial Intelligence, Cross-Border Transactions, Global Payment Systems, Machine Learning, Currency Conversion, Payment Routing, Real-Time Optimization, Transaction Efficiency, International Payments, Financial Technology, Payment Security, Regulatory Challenges, Digital Payments, Global Card Services, Data Analytics, Cost Reduction, Consumer Experience, Seamless Transactions, Payment Automation, Global Economy, Fraud Prevention.
Field Computer > Artificial Intelligence / Simulation / Virtual Reality
Published In Volume 5, Issue 5, May 2024
Published On 2024-05-07
Cite This AI for Seamless Cross-Border Transactions A New Era for Global Card Services - Arunkumar Paramasivan - IJLRP Volume 5, Issue 5, May 2024. DOI 10.5281/zenodo.14551534
DOI https://doi.org/10.5281/zenodo.14551534
Short DOI https://doi.org/g8wtcq

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