Mastercard and fraud management platform, Vesta are combining their products in a partnership to forward state-of-the art fraud resistant solutions for merchants in Asia.
Mastercard is offering its Cyber & Intelligence products which will be utilised with Vesta’s transaction guarantee platform to enable smooth transactions across the region and eliminate online fraud.
With retail businesses and customers dictating the future of e-commerce, preventing prevalent levels of fraud is a burden that lays heaving on merchants.
The total cost of e-commerce fraud to merchants globally is set to exceed US$48 billion in 2023.
“The partnership with Vesta is a great example of Mastercard’s commitment to building strategic relationships with key players across the payments and technology ecosystems,” said Karthik Ramanathan, Senior Vice President, Cyber & Intelligence, Asia Pacific, Mastercard. “Mastercard is excited to have the opportunity to work together and deliver on the cybersecurity needs of its customers in Asia Pacific, making the region’s digital economy safer, more seamless and secure.”