back Back

Fiserv integrates fraud prevention solution from Vesta in Mexico

By Megha Bhattacharya

July 23, 2021

  • Fiserv
  • Mexico
Share

fiservFiserv Inc., a global provider of payments and financial services technology, announced the integration of a fraud prevention solution into its e-commerce payment gateway to reduce the fraud-related chargeback risk for Mexican e-commerce. The Vesta fraud prevention platform helps secure online payment transactions, reduces the decline rate, and includes a “Zero Chargeback Guarantee.”

“We celebrate partnering with a security expert such as Vesta for fraud prevention in online payments, and we’re proud that Fiserv is the first player in the Mexican market to integrate this kind of solution. Thanks to the joint efforts between Fiserv and Vesta, we’re able to offer an alternative that mitigates fraud exposure for Mexico’s merchants offering e-commerce, and, at the same time, reduce the chargeback risk related to those transactions,” stated Sergio Villarruel, Country Manager for Fiserv in México.

According to Vesta, Card Not Present (CNP) fraud resulted in nearly $35.5 billion dollars in losses worldwide in 2020, an amount estimated to triple in the next four years. Vesta also points out that for each dollar lost to fraud, retailers spend three times the amount in prevention efforts.

“Fiserv is a global leader for payments, just like Vesta is the global leader for solutions that aim to prevent and reduce fraud exposure,” said Oscar Bello, General Manager for Vesta Americas. “As a first step, we aim to offer our solution to more than 30,000 business enterprises in Mexico.”

“Our models adapt to new threats and are continuously updated. Our approval rate is one of the best of its kind and we also offer a ’Zero Chargeback Guarantee’ that provides coverage for the transactions processed by this solution,” added Bello.

Previous Article

July 23, 2021

Fidelity International onboards Finbourne’s Lusid platform

Read More
Next Article

July 23, 2021

Ecobank Group partners with Microsoft to digitally upskill Africa’s SMEs

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Fiserv

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 24, 2024

Flutterwave & EFCC to set up Nigeria’s Cybercrime Research Centre

Read More

June 13, 2024

4 Cybersecurity firms using AI to thwart financial crime in the UK

Read More

June 11, 2024

Public-facing applications and APIs are the most common targets of cyberattacks

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024