Fraud Detection using Machine Learning in the Mobile Payment Service

Abstract

The transformation of payment mechanism from face-to-face transactions to non-face-to-face transactions has led to increased popularity of Internet Banking, credit card, online billing in the mobile phone itself and, hence, it is directly proportional to the advancement of smartphones in particular. However, the probability of any kind of anomalous payments increases and due to that the requirement of fraud detection arises. This paper provides the idea of the trend followed in the detection of fraud in online payment through mobile phone with the help of machine learning [1].