back Back

Mastercard and Vesta partner to offer fraud management solutions for merchants in LatAm

By Edlyn Cardoza

December 05, 2022

  • Caribbean
  • Credit Score
  • Cybersecurity
Share

Mastercard, Vesta, Fraud Management, Fraud Threats, Verify Identity, e-commerce, Credit Score, Risk Management, Digital Economy, Latin America, CaribbeanMastercard and Vesta, a leading global fraud prevention platform for digital purchases, have announced a new strategic partnership to provide a fraud management platform for merchants in Latin America and the Caribbean.

As consumers’ need and interest in online shopping increase, merchants are challenged to verify identities and manage increasingly enhanced fraud threats in real time. With this partnership, organisations join forces to meet the security needs of merchants and promote a broader initiative to improve the digital consumer experience and strengthen their confidence in e-commerce.

“We are excited about this new partnership with Mastercard. Our joint ability to help digital marketers across the network positively impact revenues with zero risk decisions in real time is a game changer,” said Vesta’s CEO Ron Hynes. “Often merchants lose good customers and revenue stemming from lack of available information, insufficient analysis and rigorous fraud prevention to the extreme, causing e-commerce retailers to refuse good customer transactions due to fear of fraud.”

Fraud management solutions resulting from this partnership will have resources from both organisations. This includes detection and response to Vesta’s real-time anomalies, comprehensive global consortium data, and the best machine learning decision-making tools with additional strategic cybersecurity and intelligence capabilities from Mastercard. Together, they will provide complete protection before, during, and after transactions, to Mastercard merchants and consumers worldwide.

“Our partnership with Vesta is the next step in our journey to make the digital economy more protegids, more transparent and secure,” said Jorge Arbesu, Senior Vice President of Partnerships, CyberSecurity, and Intelligence at Mastercard. “This partnership complements our capability and simplifies risk management for merchants, providing a better consumer experience.”

With solutions and market expertise, the partnership will provide 100% protection against undue charges and will also incorporate numerous transaction information, such as credit score and preventive alerts of undue charges. The enhanced solution will be available to all Latin American and Caribbean markets from the first quarter of 2023.

Previous Article

December 05, 2022

Thales and Handsome offer Voice Payment Card for the visually impaired

Read More
Next Article

December 05, 2022

spocto launches Innovation Lab focusing on debt collection ecosystem

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

Caribbean

Most of KSA organizations uses AI in their cybersecurity strategies, 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

May 17, 2024

Niyogin acquires ‘Superscan’ from Orbo.ai to propel AI-led neo-banking

Read More

May 17, 2024

M&T Bank taps nCino & Rich Data Co. to manage credit risk and loan performance

Read More

May 17, 2024

Evervault enters the payments space with new security platform

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
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 2023