Mumbai: Fintech company Phi Commerce on Friday launched Phi-ter, an AI-powered, omnichannel real-time fraud management system, designed to detect and prevent suspicious digital payment transactions within milliseconds. The product was unveiled at the Global Fintech Fest 2025.
Phi-ter is positioned as India’s first enterprise-grade, real-time fraud detection platform that operates seamlessly across both the issuing and acquiring sides of the payment ecosystem. The platform aims to provide unified protection for banks, payment processors, and aggregators across online, offline, and doorstep transactions.
Built on Phi Commerce’s proprietary omnichannel technology stack, Phi-ter is designed for both domestic and international markets, enhancing the company’s presence in the global fintech infrastructure space.
As India’s digital payment landscape continues to expand, cyberfraud has become a significant concern. In 2024, the country recorded over 3.6 million fraud cases, leading to financial losses exceeding ₹22,800 crore, according to data from the Ministry of Electronics and Information Technology.
Phi Commerce stated that traditional rule-based fraud detection systems have been struggling to keep up with the increasing speed, volume, and complexity of instant payment platforms such as UPI, cards, and tokenised networks. Phi-ter seeks to fill this gap by combining predictive analytics, machine learning, and adaptive intelligence to offer a real-time and proactive approach to fraud prevention.
Explaining the platform’s functionality, Rajesh Londhe, Co-founder and Business Head - Payments at Phi Commerce, said:
“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.”
According to the company, Phi-ter’s adaptive AI-ML model analyses transaction patterns across channels, identifies anomalies in real time, and flags high-risk transactions before they are processed without compromising transaction speed or user experience.
The system’s scalability and cross-channel compatibility make it suitable for use by financial institutions, e-commerce players, and logistics networks handling doorstep collections.
Phi Commerce, known for its omnichannel payment processing solutions, aims to position Phi-ter as a cornerstone in India’s efforts to strengthen its digital payments security ecosystem amid rising fraud risks and increasing regulatory focus on consumer protection and financial integrity.
With this launch, the company becomes one of the few home-grown fintechs offering an AI-driven, end-to-end fraud prevention platform designed to keep pace with the next generation of digital payment systems.
