KARACHI, Feb 15: Visa Inc. (NYSE: V) announced significant improvements to its security capabilities which will dramatically upgrade its ability to detect and prevent global electronic payments fraud, says a press release.

Upgrades to Visa’s global processing platform - VisaNet - have allowed it to develop new fraud models that enhance the speed and accuracy with which Visa detects attempted payment card fraud.

An analysis of past global transactions suggests Visa’s enhancements could help identify $1.5 billion in fraud, representing a 29 per cent performance improvement from 2009.

In particular, fraud detection rates on the riskiest transactions improved by 122 per cent over the previous model.