Mastercard and Vesta Collaborate to Provide Advanced Digital Fraud Detection Solutions for Asia Pacific

Mastercard and end-to-end fraud protection platform Vesta have announced a new strategic partnership to provide advanced anti-fraud solutions for merchants in Asia Pacific.

The partnership will include integrating Mastercard Cyber ​​& Intelligence (C&I) products and solutions into the Vesta platform to guarantee transactions and enable merchants to eliminate online fraud, approve more transactions and grow their business.

Mastercard’s partnership with Vesta also reflects the company’s continued investment in market-leading cyber capabilities that strengthen the wider ecosystem. The combination of cybersecurity solutions, including behavioral biometrics, dispute resolution and identity verification, and Mastercard’s market experience will provide merchants with 100% fraud protection, as well as transaction insights such as payment risk assessment and proactive refunds . alerts.

According to a recent study by Juniper Research, the total cost of ecommerce fraud to merchants worldwide will exceed $48 billion in 2023, up from just over $41 billion in 2022. The study found that the Asia-Pacific region accounts for 22% of global fraud.

With the rise of consumers choosing to shop online, identity verification, data breach protection, and real-time fraud prevention have become a challenge for merchants.

The new partnership will address this challenge and help simplify risk management for merchants in Asia Pacific by providing Mastercard merchants with complete protection before, during and after a transaction, while also offering enhanced digital payment options for consumers in the region and building overall trust. in e-commerce.

The service will be available to merchants in the second quarter of this year.

“The partnership with Vesta is a great example of Mastercard’s commitment to building strategic relationships with key players in the payments and technology ecosystem.” said Karthik Ramanartan, senior vice president of cybersecurity and intelligence, Asia Pacific, Mastercard. “Mastercard is delighted to be able to work together and address the cybersecurity needs of its customers in the Asia-Pacific region while making the region’s digital economy more secure, seamless and reliable.”

“We are honored to partner with Mastercard for cybersecurity and intelligence innovation,” said Shabab Muhaddes, senior vice president of Vesta and GM APAC. “Through this strategic partnership, merchants will benefit from a single integration with Vesta’s decision engine to approve more legitimate transactions with zero liability for fraud, allowing them to focus on growing sales and improving the customer experience without fear of fraud.”