Razorpay has launched Vulcan, an AI-powered payments foundation model developed with NVIDIA and AWS to improve payment reliability, fraud detection and transaction routing. Built using insights from 3 trillion data points, the model has improved payment success rates by up to 10%, detected eight times more international card fraud and boosted UPI app visibility.
New Delhi: Fintech major Razorpay has launched an AI-powered payments foundation model -- Razorpay Vulcan -- built with NVIDIA and AWS technology aimed at making digital transactions more reliable, secure and predictable as India’s digital economy continues to expand, the company said on Tuesday.
The company described it as India’s first transformer-based AI foundation model built specifically for payments.
Developed using technology from NVIDIA and Amazon Web Services (AWS), the model is designed to address payment failures, fraud, transaction routing and checkout-related friction across India’s diverse digital payments ecosystem.
Razorpay said the model was developed after an internal study involving 1.5 million shoppers and more than 51,000 businesses, which found that payment-related friction affected consumers across both metropolitan and smaller markets.
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