Equifax & Mastercard to combat Payment Fraud in Latin America

By Gloria Mathias

Equifax® and Mastercard have joined forces to empower Latin American financial institutions, payment service providers, acquiring banks, and merchants to overcome payment fraud challenges without disruption to the customer experience.

Enhanced fraud management tools, including Mastercard Identity, Ethoca Alerts, and Ethoca Consumer Clarity are now available to Mastercard business customers in Latin America through the Kount Payment Fraud solution from Equifax. The combined solutions protect the entire digital payments environment through identity verification and fraud risk assessment while preventing chargebacks through order validation and alerting services.

Latin America has one of the highest fraud rates globally, with studies showing that merchants are losing upward of 4.6% of their eCommerce revenue to payment fraud. With e-commerce revenue expected to nearly double in the region from $85 billion in 2021 to $160 billion by next year, Equifax and Mastercard are helping empower businesses to achieve their full growth potential by stopping threats in real-time.

Due to its real-time fraud prevention capabilities during transactions, the Kount Payment Fraud solution from Equifax is used by more than 20,000 businesses in more than 40 countries worldwide.

“As a global leader in fraud prevention, we are thrilled to work with Mastercard to help Latin American merchants and partners combat fraud and continue to innovate across the financial sector,” shared Chris Jones, President of Equifax Latin America. “This strategic alignment will provide safer payment transactions and reduce chargebacks, enabling businesses of all sizes in Latin America to improve their bottom line.”

“Adding to our existing capabilities, this collaboration is the next step in our journey to make the digital economy safe and more seamless for payment providers and merchants in the region,” said Ana Lucia Magliano, Executive Vice President of services, Mastercard Latin America and the Caribbean. “By working together, we’re advancing our shared goal of not only meeting the payments ecosystem security needs but also addressing a broader effort to enhance the consumer’s digital experience.”