Phi Commerce launches Phi-ter - India's first omnichannel, AI-powered real-time fraud management system

MUMBAI, India, Oct. 10, 2025 /PRNewswire/ -- 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 Commerce's omnichannel stack, Phi-ter is India's 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 India's 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.

"Phi-ter doesn't just detect; it learns. It predicts potentially fraudulent activity even before the payment completes and continuously feeds that intelligence back into its AI-ML engine. Over time, it becomes sharper and more adaptive to evolving fraud behaviour," said Rajesh Londhe, Co-founder and Business Head – Payments, Phi Commerce.

At its core, Phi-ter runs a four-stage high-speed detection cycle — ingesting transaction data into its Fraud Management System (FMS), profiling it against defined rules and behavioural patterns, aggregating scores across multiple parameters such as device, location, velocity, and transaction history, and instantly deciding whether to approve, flag, or block a transaction. This entire process occurs within milliseconds, enabling acquirers and issuers to act before funds have even moved.

Phi-ter's advanced AI and machine learning engine continuously refines its intelligence by learning from both historical and live transaction data. Every confirmed event, fraudulent or legitimate, becomes a new input that sharpens detection accuracy and reduces false positives over time. This constant feedback loop makes Phi-ter a self-learning, predictive system that evolves with changing fraud behaviour.

Phi-ter's no-code interface empowers risk teams to configure, modify, and deploy fraud rules instantly, without relying on engineering intervention. Rule priorities can be dynamically adjusted to match real-time business scenarios, providing risk operations with complete control. The system also features a robust alerts and case management module that provides immediate notifications with full blocking rationale, transaction details, and triggered rule logic.

By combining millisecond-level analytics, omnichannel coverage, self-learning AI, and intuitive configurability, Phi-ter delivers a transformative approach to fraud management, enabling enterprises to shift from reactive detection to proactive prevention.

About Phi Commerce

Digital payments company Phi Commerce offers omnichannel payment solutions to enterprises that enable them smooth and flexible payments across all consumer touchpoints — browser, mobile, in-store and remote. A payment aggregator payment gateway (PAPG) licence holder from the Reserve Bank of India, Phi Commerce offers a unified omnichannel digital payment platform catering to both B2B and B2C payment requirements for businesses worldwide. The company, backed by investors like Beenext Singapore and Opus Ventures, has offices in Mumbai, Pune, and Singapore, with plans afoot to expand into Southeast Asia, Japan and the Middle East. Phi Commerce had won the 'Best in Class Payment Startup in Established Fintech Category' at the 2024 Assocham Annual Fintech Excellence Awards.