July 25, 2023 – Tel Aviv, Israel – nSure.ai, a global leader in fraud prevention for online merchants selling high-risk digital products and services, announced today that the U.S. Patent and Trademark Office has issued its second patent – No. 20220036364. This patent further strengthens the company’s intellectual property position.
The patent, titled Systems and Methods for Detection of Online Payment Mechanism Fraud, empowers merchants to strike back against fraudsters attempting to buy digital goods with a stolen payment mechanism. The system uses artificial intelligence to identify with extremely high certainty that the transaction is fraudulent. Rather than declining the transaction, the merchant approves the transaction and delivers a zero-balance gift card.
“Fraudsters who try to sell a worthless gift card on the dark web will see their reputation tarnished in their world, and will have difficulty continuing to operate under the same user name,” said Alex Zeltcer, CEO of nSure.ai. “These transactions will become a waste of their time and money. The fraudsters will ultimately leave those digital merchants alone and move on to others to conduct their business.”
This patent follows another received by nSure.ai in May 2020. The company received a patent (10650382) titled Systems and Methods for Detecting Fraudulent Use of a Serial Code for Accessing an Associated Value Stored on a Network. That patent prevents fraudsters from conducting brute-force balance checks to find account numbers with a balance. When the system identifies that this attack is underway, it displays false balance values so the fraudster is unable to know which cards actually have a balance and which are fakes.
nSure.ai is committed to disrupting the fraud prevention space for digital goods and enabling seamless and secure d-commerce and payments across digital platforms. It uses artificial intelligence to empower digital merchants to approve up to 95% of their transactions – and contractually guarantees it. Its unparalleled ability to identify fraudulent transactions enables it to confidently send zero-balance gift cards to criminals, and recognize brute-force balance checks.
nSure.ai is a world leader in AI-powered advanced fraud prevention for high-risk digital transactions. We provide a unique multi-tenant platform that empowers our customers with their own AI/Machine learning model. Our platform’s ability to collect, aggregate, and analyze behaviors and data in real-time enables nSure.ai to deliver payment approvals north of 90%, along with chargeback guarantees that make substantial improvements to our customers’ top and bottom lines. nSure.ai currently serves clients across four continents – among them are global leaders in the gift card, gaming, crypto, and online travel segments.