Mastercard And Vesta Partner To Deliver Cutting-edge Digital Fraud Detection Solutions In Asia Pacific

Mastercard and Vesta - a comprehensive aannounce the establishment of a new strategic partnership to bring the most advanced fraud management solutions to merchants in Asia - Pacific.

The partnership will include the integration of Mastercard's Cyber & Intelligence (C&I) products and solutions into Vesta's transaction assurance platform, helping merchants avoid online frauds, make more transactions, and expand their business.

The partnership with Vesta also reflects Mastercard's continued investment in market-leading cyber capabilities with the ability to strengthen a broader ecosystem. The combination of cybersecurity solutions, including behavioral biometrics, pre-dispute resolution, identity verification, and Mastercard's market expertise, will bring provides merchants with complete protection against chargeback fraud, and incorporates transaction information such as payment risk scores, or chargeback warnings.

A recent study by Juniper Research shows that the total damage caused by fraud in e-commerce to businesses globally will surpass the $48 billion mark by 2023, up sharply from more than $41 billion in 2022. The study also found that 22% of global fraud occurred in the Asia-Pacific region.

As more and more consumers choose to shop online, verifying identities, preventing data leaks and dealing with fraud in real time are becoming challenges for many consumers. enterprise.

Mastercard and Vesta's new partnership will help solve this problem and help businesses in the Asia-Pacific region simplify risk management by providing institutions Mastercard merchants with comprehensive protection before, during and after the transaction. The partnership also promises enhanced digital payment experiences for consumers in the region, while strengthening trust in e-commerce.

Businesses can start using this service in the second quarter of this year.

Karthik Ramanathan, Senior Vice President of Intelligence and Network Solutions, Mastercard, Asia Pacific, said: “QThe partnership with Vesta is a prime example of Mastercard's commitment to building strategic partnerships with key players in the payments and technology ecosystem. Mastercard is delighted to have the opportunity to partner with and meet the cybersecurity needs of users in the Asia-Pacific region, helping to ensure a safe and secure digital economy in the region. Safer, more seamless and more secure.

Shabab Muhaddes, Senior Vice President, General Manager, Asia Pacific, Vesta shared :We are honored to partner with Mastercard to bring innovations in the field of Cyber and Intelligence. Through this strategic partnership, merchants will benefit from integration into Vesta's decision engine to be able to approve more legitimate transactions, avoiding solely responsible for the fraud of the refund. This solution allows businesses to stop worrying about fraud and focus on increasing sales and improving customer experience."