PayMongo, Vesta partner to boost fraud detection capabilities

Tuesday 3 November 2020 11:39 CET | News

Philippines-based online payment processing platform PayMongo has announced its partnership with US-based fintech Vesta to boost its fraud detection capabilities.

PayMongo’s collaboration with Vesta comes after its Stripe-led USD 12 million Series A funding. The partnership adds fraud assessment, customer account protection, and real-time reporting for PayMongo’s merchants. These features will be added on top of the company’s existing offering, which provides an automated onboarding process, API integration for websites and apps, as well as the ability to accept digital payments such as credit cards, debit cards, and e-wallets through the PayMongo Links product and e-commerce plug-ins.

The partnership between PayMongo and Vesta comes at a time of growing concerns over online fraud, as digital transactions in the Philippines increased during the pandemic. The collaboration leverages Vesta’s real-time decisioning platform, which was built on data science and machine learning, and PayMongo’s online payment platform.

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Keywords: PayMongo, Vesta, Philippines, Asia, fraud prevention, merchants, API, e-wallet, card payments, online payments, Series A funding, funding round, real-time decisioning platform
Categories: Fraud & Financial Crime
Countries: Philippines
This article is part of category

Fraud & Financial Crime