At the Global Fintech Fest 2025, digital payments fintech Phi Commerce announced the launch of Phi-ter, an AI-powered, omnichannel fraud management and prevention system that detects and flags suspicious transactions within milliseconds, before the payment even completes.
Built on Phi Commerces omnichannel stack, Phi-ter is Indias first enterprise-grade, real-time fraud detection platform that operates seamlessly across both the issuing and acquiring sides of the payment ecosystem, empowering banks, processors, and payment aggregators with unified protection across online, offline, and doorstep transactions. The company has launched the platform for both domestic and international markets.
As Indias digital economy scales rapidly, cyberfraud has emerged as a key challenge. In 2024 alone, the country reported over 3.6 million fraud incidents, with financial losses exceeding Rs 22,800 crore, according to data from the Ministry of Electronics and IT. With fraudsters exploiting the growing speed and volume of instant payments such as UPI, cards, and tokenised networks, traditional rule-based fraud systems can no longer keep pace. Phi-ter addresses this challenge by offering real-time, predictive, and adaptive fraud prevention that protects both customers and payment participants without slowing down legitimate transactions.