Mastercard and Vesta partner to offer enhanced Fraud Management solutions across LatAM and the Caribbean

Mastercard and Vesta, a leading end-to-end global fraud prevention platform for digital purchases, announced a new strategic partnership to offer an advanced fraud management platform for merchants across Latin America and the Caribbean. As the demand and interest from customers to shop online expand merchants are challenged to verify identities and manage evolving fraud threats in real-time. Through this partnership, the companies collaborate to not only meet merchants’ security needs but also focus on a wider effort to enhance the consumer’s digital experience and strengthen their confidence in e-commerce.

The fraud management solutions stemming from this collaboration will bring together resources from each organization. This consists of Vesta’s real-time irregularity detection and response, broad global consortium data, and state-of-the-art machine learning decisioning tools with the added strategic capabilities of Mastercard Cyber and Intelligence solutions. Collectively, they will provide full protection throughout the transaction for Mastercard merchants and consumers around the world.

Offers comprehensive fraud chargeback protection to merchants

Using the blend of the solutions and market know-how, the partnership will offer merchants comprehensive fraud chargeback protection and will also integrate several transactional insights like payment risk scores and pre-emptive chargeback notifications.

The team is excited about this new partnership with Mastercard. The organization’s combined capability to support digital merchants across the network positively impact revenues with zero-risk decisions in real-time is a game-changer, said Vesta CEO, Ron Hynes.

Intermittently merchants overlook legitimate customers and revenue merely due to a shortage of available information, inadequate analysis, and excessively stringent fraud prevention, initiating e-commerce retailers to decline great customer transactions, because of the fear of fraud, Hynes added.

The partnership with Vesta is the next step to make the digital economy safer more seamless and more secure, said Jorge Arbesu, Senior Vice President, Partnerships, Cyber and Intelligence, Mastercard. Adding to its existing capabilities, this partnership simplifies risk management for merchants while offering a better consumer experience, Arbesu added.

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

About Vesta

Vesta is a leading rapid transaction guarantee platform for online purchases, delivering incomparable approval rates, a superior customer experience, and eliminating fraud for leading brands in telco, travel, e-commerce, and financial services. Using machine learning supported by 26 years of transactional data narration, Vesta increases approvals of valid sales for its customers, while eliminating chargebacks and other procedures of digital fraud, driving the true cost of fraud to zero and transferring 100% of the liability for fraud, comprising chargeback processing, therefore customers can emphasis on increasing sales. The company is headquartered in Portland, OR, with offices in Atlanta, Ireland, Miami, Mexico, and Singapore.

About Mastercard

Mastercard is a global technology business in the payments industry. The company’s mission is to connect and power an inclusive, digital economy that promotes every individual, everywhere by making transactions secure, simple, smart, and accessible. Using secure data and networks, partnerships, and passion, its innovations and solutions help people, financial institutions, governments, and organizations achieve their highest potential. Mastercard’s decency quotient, or DQ, drives its culture and everything it does within and out of the business. With connections across more than 210 countries and territories, it builds a sustainable planet that unlocks invaluable opportunities for everyone.