With merchants estimated to suffer more than US$48 billion in ecommerce fraud globally in 2023, with 22% of that in Asia alone, Mastercard is expanding its partnership with global leader in payment fraud protection, Vesta.

Mastercard will be integrating Vesta’s iron-clad Payment Guarantee and Payment Protect risk scoring solution into its Mastercard Payment Gateway Services (MGPS) platform. Starting in the second half of 2023, MPGS customers in the Asia Pacific region will be given optional access to both fraud fighting solutions which would offer total protection for ecommerce transactions and take their cost of fraud to zero.

With 200+ global acquirer connections, and the ability to process secure payments in 170+ currencies across 30+ payment methods online, in-person or in-app, MPGS is a powerful omnichannel payments platform that enables merchants to easily accept a payment from anywhere in the world.

Mastercard Asia Pacific executive vice president of products and innovations, Sandeep Malhotra said, “To provide MPGS customers with the toughest, most impenetrable fraud protection available, Mastercard is committed to nurturing strategic partnerships with the most trusted service providers in the payments, technology and security industries – like Vesta.

“Through this first-of-its-kind solution combining the scale and reach of MPGS with Vesta’s unrivalled fraud protection powers in a single integration, merchants can enjoy the peace of mind – and extra time in their day – that comes from knowing that their eCommerce transactions are fully protected from fraud and financial risk.”  

With Vesta Payment Guarantee, transactions are 100% guaranteed against fraud. This means that if a fraudulent order approved by Vesta’s rigorous risk scoring engine makes it through the checkout process, Vesta will absorb the full cost of the transaction. By eliminating a merchant’s risk and liability from fraudulent chargebacks, it takes their cost of fraud to zero.

Vesta senior vice president and general manager for APAC, Shabab Muhaddes added, “Our promise: Every approved transaction is covered by Vesta’s 100% fraud chargeback guarantee. If we’re wrong, it’s on us.  We’re excited to enable all MPGS customers and their businesses to focus on what matters – growing sales without the fear of fraud.”