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  • Qiwi began to verify payments and transfers using AI


    Qiwi payment system has started using the artificial intelligence algorithm to identify and suspend illegal actions associated with electronic wallets. Representatives of the company told how the AI will work, and what the owners of “digital money” should expect.

    Qiwi began to verify payments and transfers using AI

    The new algorithm is designed to identify questionable operations and suspend them for review in automatic mode or manually. If the AI considers the payment or transfers suspicious, the transaction will be suspended, in connection with which users were warned of possible delays in conducting payment transactions and transfers. However, Qiwi representatives noted that the chance of blocking payments by law-abiding clients is not expected to exceed 1%.

    “Our new algorithm monitors the historical flows of illegal operations and forms a behavioral model based on them that evaluates both the amount, potential purpose, and involvement in clusters of dishonest clients. The model is enriched with data from external sources and allows to detect potentially "bad" payments with high accuracy. If they are suspected, they will be subject to additional verification for both automated and manual analysis, ”said Qiwi Technical Director Kirill Ermakov.

    The deployment of a new algorithm as part of the payment system will take place in waves in the coming days. Today, the platform includes more than 22.3 million electronic wallets and more than 136 thousand terminals and payment acceptance points.


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