Mastercard and Vesta, a leading end-to-end fraud prevention platform for digital purchases, announced a new strategic alliance aimed at delivering next-generation fraud management for merchants in Latin America and the Caribbean. With increasing consumer interest and need for online shopping, merchants are faced with the challenge of verifying identities and managing fraud threats in real time. Through this alliance, organizations join forces to meet the security needs of merchants, while engaging in the broader goal of improving the digital consumer experience and building trust in e-commerce.
The fraud management solutions resulting from this alliance will bring together resources from both organizations. Thisincludes real-time anomaly detection and response, a broad global data consortium and best-in-class machine learning decision tools by Vesta, with the addition of the strategic resources of Mastercard’s Cyber and Intelligence solutions. Together they will provide total protection before, during and after every transaction to Mastercard merchants and consumers around the world.
Through this combination of solutions and market expertise, the alliance will offer merchants 100% chargeback protection and will also incorporate valuable transactional information, such as payment risk score and preemptive chargeback alerts.
“We are very excited about this new partnership with Mastercard. Our combined ability to help digital merchants across the network improve their revenue and make zero-risk decisions in real time is a true game changer,” said Ron Hynes, CEO of Vesta. He added: “Often merchants lose customers and profits due to simple lack of information, insufficient analysis or overly strict fraud prevention, leading e-commerce retailers to reject transactions from good customers, just for fear of fraud.”
“Our partnership with Vesta is the next step in our journey to make the digital economy safer, smoother and more secure,” said Jorge Arbesu, Senior Vice President of Cybersecurity and Intelligence at Mastercard. “This partnership adds to our resources and simplifies fraud management for merchants, while improving the user experience.”