Vesta and Stripe join forces

Friday 17 November 2023 11:24 CET | News

Vesta and Stripe partner to provide fraud prevention and risk protection solution that safeguards merchants from fraudulent transactions. 

Under the partnership, Vesta Payment Guarantee will incorporate Stripe Radar risk scores to offer a comprehensive fraud and revenue protection option to increase transaction approval rates and prevent first-party and third-party chargebacks. 

This is intended to be advantageous to merchants who are at risk due to high fraud or excessive disputes. Merchants can access the Vesta Payment Guarantee on Stripe App Marketplace in H1 2024. Vesta will also integrate Stripe Connect, which lets businesses facilitate purchases and payments between third-party buyers and sellers. As stated in the press release, with Stripe Connect, Vesta merchants and their customers will have a holistic solution that mitigates fraud and risk while processing payments quickly and securely. 

Vesta and Stripe partner to provide fraud prevention and risk protection solution that safeguards merchants from fraudulent transactions.

Moreover, the press release highlights that Vesta and Stripe share a goal of making online transactions as simple and worry-free as possible. Collaborating with Stripe allows Vesta to directly reach more merchants and help them grow revenue and eliminate the losses from fraud. 

About Vesta Corporation 

Vesta is a global transaction guarantee company for online purchases, delivering high approval rates and a smooth customer experience while eliminating chargebacks and other forms of digital fraud. In May 2023, Vesta integrated into Mastercard Payment Gateway Services (MPGS) to improve fraud protection for ecommerce merchants. Building on the two companies' existing fraud detection partnership, Mastercard was set to integrate Vesta’s Payment Guarantee and Payment Protect risk-scoring solutions into its MPGS platform. Beginning with H2 2023, MPGS customers within the Asia Pacific region were enabled with optional access to both fraud-fighting solutions, which are to provide complete protection for their ecommerce transactions and take their fraud cost to zero. 

About Stripe 

Stripe is a payment processing and financial infrastructure platform. In November 2023, US-based management platform, ZenBusiness, integrated with Stripe to help SMEs better manage their financial operations. The integration combines Stripe’s payment processing with ZenBusiness Money Pro, a service built for small business owners that track all mileage, expenses, income streams, and tax deductions in real-time.  

In the same month, LG Electronics announced its partnership with Stripe to provide Singapore customers with improved payment methods and overall checkout experience. Following this announcement, Stripe would deliver its suite of services and expertise to optimise the payments and the checkout experience for LG Electronics’ new brand store in the country. The companies would focus on providing customers and shoppers with a convenient payment process to meet their needs, preferences, and expectations, directly with LG, regardless of their location. 

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Keywords: fraud detection, fraud prevention, risk management, merchant, online payments
Categories: Fraud & Financial Crime
Companies: Stripe, Vesta
Countries: World
This article is part of category

Fraud & Financial Crime




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