Mastercard has partnered with fraud protection platform Vesta to deliver innovative fraud management solution for merchants in Asia Pacific. The partnership will involve the integration of Mastercard’s Cyber & Intelligence (C&I) products and solutions into Vesta’s transaction guarantee platform, and will allow merchants to eliminate online fraud, approve more transactions, and grow their business.

Mastercard’s collaboration with Vesta also reflects the company’s ongoing investments in cyber capabilities that bolster the wider ecosystem. The combination of cyber security solutions, including behavioural biometrics, pre-dispute resolution, identity verification, and Mastercard’s market expertise, will provide merchants with 100% fraud chargeback protection, whilst also incorporating transactional insights such as payment risk scores and pre-emptive chargeback alerts. The ecommerce fraud ecosystem According to a recent study from Juniper Research, the total cost of ecommerce fraud to merchants globally will exceed USD 48 billion in 2023, from just over USD 41 billion in 2022.

The study found that Asia Pacific accounted for 22% of global fraud. With an increasing number of consumers choosing to shop online, verifying identity, protecting against data leaks, and tackling fraud in real time has become a challenge for merchants. The new partnership will address this problem and help simplify risk management for Asia Pacific-based merchants by providing Mastercard merchants with full protection before, during, and after a transaction, while also offering an enhanced digital payment experience for consumers in the region and strengthening overall trust in ecommerce.

The service will be available to merchants in the second quarter of 2023 Officials from Vesta said that they’re happy to partner with Mastercard to innovate in the cyber and intelligence domain. Through this strategic partnership, merchants will benefit from one integration into Vesta’s decision engine to approve more legitimate transactions with zero fraud chargeback liability, allowing them to focus on growing sales and improving customer experience without the fear of fraud. .