At the Global Fintech Fest 2025, digital payments company Phi Commerce announced the launch of Phi-ter, an AI-powered, omnichannel fraud management and prevention platform that can detect and flag suspicious transactions within milliseconds before the payment even completes.
Financial Technology Insights: Symphony Unveils First Agentic AI Layer for Finance
Built on Phi Commerce’s omnichannel payment stack, Phi-ter is being introduced as India’s first enterprise-grade, real-time fraud detection system operating across both the issuing and acquiring sides of the payment ecosystem. It offers unified protection for banks, processors, and payment aggregators, extending across online, offline, and doorstep transactions. The company has made the platform available to both domestic and international markets.
As India’s digital economy continues to expand rapidly, the rise in cyberfraud has become a significant concern. In 2024, more than 3.6 million fraud incidents were reported in the country, with losses exceeding ₹22,800 crore, according to data from the Ministry of Electronics and IT. With the growing popularity of instant payment systems like UPI, card networks, and tokenized transactions, fraudsters have adapted quickly, making traditional rule-based systems less effective. Phi-ter seeks to address this problem through real-time, predictive, and adaptive fraud prevention, offering protection without slowing down legitimate transactions.
Financial Technology Insights: BCP Launches Peru’s First Crypto Banking Platform
“Phi-ter doesn’t just detect; it learns,” said Rajesh Londhe, Co-founder and Business Head Payments at Phi Commerce. “It predicts potentially fraudulent activity before the payment completes and keeps refining its accuracy through continuous learning. Over time, it becomes sharper and more adaptive to new fraud behaviors.”
At its core, Phi-ter functions through a high-speed detection process that analyzes transaction data, profiles it against defined rules and behavioral patterns, and assesses risk across parameters like device, location, transaction history, and activity velocity. The system can then decide, within milliseconds, whether to approve, flag, or block a transaction, allowing acquirers and issuers to intervene before any funds are transferred.
The AI and machine learning engine behind Phi-ter continuously improves by learning from both historical and live data. Each confirmed event whether fraudulent or legitimate helps fine-tune detection accuracy and reduce false positives. Its no-code interface also gives risk teams the flexibility to modify and deploy fraud rules instantly, without depending on engineering teams. Dynamic rule prioritization and a detailed alerts system allow real-time adjustments and provide full context on why a transaction was blocked or flagged.
Financial Technology Insights: State Street Releases 2025 Digital Assets Outlook
By merging millisecond-level analytics, omnichannel coverage, self-learning AI, and an intuitive user experience, Phi-ter marks a shift from reactive fraud detection to proactive prevention. Phi Commerce aims to redefine how enterprises secure digital transactions and strengthen trust as India’s digital economy continues its rapid growth.
To share your insights with the FinTech Newsroom, please write to us at sudipto@intentamplify.com