Strategic initiative seeks to broaden protection for merchants while improving the consumer e-commerce experience
MIAMI – November 30, 2022 – Mastercard and Vesta, a leading end-to-end fraud prevention platform for digital purchases, 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, merchants are challenged to verify identities and manage evolving fraud threats in real time. Through this partnership, the organizations join forces to not only meet merchants’ security needs, but also address a broader effort to enhance the consumer ‘s digital experience and strengthen their trust in ecommerce.
The fraud management solutions resulting from this collaboration will unite resources from each organization. This includes 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 will provide full protection, before, during, and after a transaction for Mastercard merchants and consumers worldwide.
Using the combination of the solutions and market expertise, the partnership will provide merchants 100% 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, adding, “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.”
“Our partnership with Vesta is the next step in our journey to make the digital economy safer, more seamless and secure ,” said Jorge Arbesu, Senior Vice President, Partnerships, Cyber and Intelligence, Mastercard.“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 & Caribbean starting Q1 2023.
Vesta is a leading instant transaction guarantee platform for online purchases, delivering unparalleled approval rates, a better customer experience and eliminating fraud for leading brands in telco, e-commerce, travel, and financial services. Using machine learning backed by 26 years of transactional data history, Vesta increases approvals of legitimate sales for its customers, while eliminating chargebacks and other forms of digital fraud, driving the true cost of fraud to zero and transferring 100% of the liability for fraud, including chargeback processing, so customers can focus on increasing sales. The company is headquartered in Portland, OR, with offices in Atlanta, Miami, Ireland, Mexico, and Singapore. For more information visit www.vesta.io.
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
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