International Journal For Multidisciplinary Research
E-ISSN: 2582-2160
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Volume 6 Issue 6
November-December 2024
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Harnessing Predictive Analytics: Transforming Payment Behavior in the Digital Age
Author(s) | Kumar Shanmugasamy |
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Country | United States |
Abstract | This paper delves into the transformative potential of predictive analytics, powered by artificial intelligence (AI), in forecasting payment behavior within the digital payment’s ecosystem. Predictive analytics, using machine learning models, analyzes historical payment data, identifies patterns, and anticipates future consumer actions. Financial institutions leverage these insights to enhance payment processes, improve fraud detection, reduce payment defaults, and offer personalized services. The study also examines a case where AI-driven analytics successfully reduced late payments and improved customer satisfaction. Ethical challenges such as data privacy, model bias, and regulatory compliance are addressed. The findings underscore the significant role of predictive analytics in optimizing digital payment systems and enhancing the overall customer experience, paving the way for a more seamless and satisfying digital payment journey. |
Keywords | Predictive analytics, payment behavior, Artificial intelligence (AI), Machine learning, fraud detection, payment forecasting, digital payments |
Field | Computer > Artificial Intelligence / Simulation / Virtual Reality |
Published In | Volume 6, Issue 6, November-December 2024 |
Published On | 2024-11-19 |
Cite This | Harnessing Predictive Analytics: Transforming Payment Behavior in the Digital Age - Kumar Shanmugasamy - IJFMR Volume 6, Issue 6, November-December 2024. DOI 10.36948/ijfmr.2024.v06i06.31019 |
DOI | https://doi.org/10.36948/ijfmr.2024.v06i06.31019 |
Short DOI | https://doi.org/ |
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E-ISSN 2582-2160
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