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LATAM | Dec 2, 2022

Mastercard, Vesta join forces to offer enhanced fraud management solutions

/ Our Today

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Strategic initiative seeks to broaden protection for merchants while improving consumer e-commerce experience

Mastercard and Vesta, a leading end-to-end fraud prevention platform for digital purchases, has announced a new strategic partnership to provide a state-of-the-art fraud management platform for merchants across Latin America and the Caribbean.

As the need and interest from consumers to shop online increases, the organisations noted that merchants are challenged to verify identities and manage evolving fraud threats in real time.

Through this partnership, Mastercard and Vesta are joining forces in an effort to not only meet merchants’ security needs, but also address a broader need to enhance consumers’ digital experience and strengthen their trust in e-commerce.

The fraud management solutions resulting from this collaboration will unite resources from each organisation. These include Vesta’s real-time anomaly detection and response, extensive global consortium data and best-in-class machine learning decisioning tools with the added strategic capabilities of Mastercard cyber and intelligence solutions.

Together they aim to provide full protection before, during, and after a transaction for Mastercard merchants and consumers worldwide.

Ron Hynes, CEO of Vesta.

Using the combination of the solutions and market expertise, the partnership will provide merchants 100 per cent fraud chargeback protection and will also incorporate numerous transactional insights like payment risk scores and pre-emptive chargeback alerts.

“We are excited about this new partnership with Mastercard. Our combined ability to help digital merchants across the network positively impact revenues with zero risk decisioning in real time, is a game-changer,” said Vesta CEO Ron Hynes.

Hynes added: “Too often, merchants lose legitimate customers and revenue simply due to a lack of available information, insufficient analysis and overly strict fraud prevention, causing ecommerce retailers to decline good customer transactions because of the fear of fraud.”

Jorge Arbesu, senior vice president, partnerships, cyber and intelligence, Mastercard.

Said Jorge Arbesu, senior vice president, partnerships, cyber and intelligence, Mastercard: “Our partnership with Vesta is the next step in our journey to make the digital economy safer, more seamless and secure.”

Arbesu added: “Adding to our existing capabilities, this partnership simplifies risk management for merchants while offering a better consumer experience.”

The enhanced solution will be available to all markets across Latin America and the Caribbean, starting Q1 2023.

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