Mastercard and Vesta partner to deliver digital fraud detection solutions for APAC
By Leandra Monteiro
Mastercard and end-to-end fraud protection platform Vesta have announced a new strategic partnership to deliver fraud management solutions for merchants in Asia Pacific.
The partnership will involve the integration of Mastercard’s Cyber & Intelligence (C&I) products and solutions into Vesta’s transaction guarantee platform, and will allow merchants to eliminate online fraud, approve more transactions and grow their business.
“The partnership with Vesta is a great example of Mastercard’s commitment to building strategic relationships with key players across the payments and technology ecosystems,” said Karthik Ramanathan, Senior Vice President, Cyber & Intelligence, Asia Pacific, Mastercard. “Mastercard is excited to have the opportunity to work together and deliver on the cybersecurity needs of its customers in Asia Pacific, making the region’s digital economy safer, more seamless and secure.”
Mastercard’s partnership with Vesta also reflects the company’s ongoing investments in cyber capabilities that bolster the wider ecosystem. The combination of cyber security solutions, including behavioural biometrics, pre-dispute resolution, and identity verification, and Mastercard’s market expertise, will provide merchants with 100% fraud chargeback protection, whilst also incorporating transactional insights such as payment risk scores and pre-emptive chargeback alerts.
With an increasing number of consumers choosing to shop online, verifying identity, protecting against data leaks and tackling fraud in real time has become a challenge for merchants.
The new partnership will address this problem and help simplify risk management for Asia Pacific-based merchants by providing Mastercard merchants with full protection before, during and after a transaction, while also offering an enhanced digital payment experience for consumers in the region and strengthening overall trust in ecommerce.
“We are honored to partner with Mastercard to innovate in the cyber and intelligence domain,” said Shabab Muhaddes, Vesta SVP and GM APAC. “Through this strategic partnership, merchants will benefit from one integration into Vesta’s decision engine to approve more legitimate transactions with zero fraud chargeback liability, allowing them to focus on growing sales and improving customer experience without the fear of fraud.”
The service will be available to merchants in the second quarter of this year.
IBSi Daily News Analysis
June 02, 2023
How wealth management firms can grow revenues in a declining marketRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage