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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