February 21, 2024

Mastercard, through its partnership with Vesta Solutions, enables businesses to accept payments from anywhere in the world.

Mastercard will integrate Vesta’s Payment Assurance™ and its risk scoring solution, Payment Protect, into the Mastercard Payment Gateway Services (MGPS) platform.

A more streamlined checkout process

The rise of e-commerce has also given rise to e-commerce fraud. In fact, Juniper Research study Findings Global losses related to e-commerce fraud are projected to exceed $48 billion by 2023. Fraudulent chargebacks impose significant costs on merchants, and many merchants simply do not have the capabilities to prevent or mitigate such fraud.

By integrating Vesta’s solution into its platform, Mastercard aims to protect merchants. Since Vesta is 100% guaranteed against fraud, if a fraudulent transaction occurs during the checkout process, Vesta will be held responsible for the full amount of the transaction. By eliminating the cost of fraud, merchants can focus on business-building strategies.

In the second half of 2023, customers using the Mastercard Payment Gateway Services platform in the Asia-Pacific region will have the option both Payment Guarantee™ and Payment Protect solutions to protect their e-commerce transactions.

Vesta will roll out its solution to Latin America and the Caribbean by the first quarter of 2023. Sandeep Malhotra, EVP Product, said: “To provide MPGS customers with the strongest and most impenetrable fraud protection, Mastercard is committed to strategic partnerships with the payments, technology and security industries’ most trusted service providers, such as Vesta .” & Innovation, Asia Pacific in a statement released by Mastercard Inc.

“Our promise is that every approved transaction is covered by Vesta’s 100% Fraud Chargeback Guarantee. If we’re wrong, it’s on us. We’re excited to allow all MPGS customers and their businesses to focus on what matters – Increase sales without fear of fraud,” Shabab Muhaddes, Vesta senior vice president and general manager, Asia Pacific, said in a prepared statement.