Mastercard intensifies fraud protection measures for e-commerce sellers

About US$10.6b in fraud will potentially affect Asian merchants in 2023.

Mastercard has stated its desire to ramp up its fraud protection program for merchants in the e-commerce market.

In 2023 alone, it was predicted that e-commerce merchants will suffer more than US$48b in fraudulent costs globally. Further, 22% of that (or US$10.6b) will affect merchants in Asia.

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In partnership with Vesta, Mastercard will be implementing Vesta’s Payment Guarantee and Payment Protect risk scoring solution into the Mastercard Payment Gateway Services (MPGS) system.

Beginning in the latter half of 2023, MPGS clients in the APAC will have the option to utilise two fraud prevention solutions, delivering complete security for their e-commerce transactions and reducing their fraud-related expenses to zero.