Vesta Partners Stripe to Shield Merchants from Fraudulent Transaction Liabilityby Fintech News Singapore November 17, 2023
Transaction guarantee platform Vesta and financial infrastructure provider Stripe have announced a partnership to offer a comprehensive fraud prevention and risk protection solution in a move to combat fraud and protect revenue.
The solution will combine Vesta’s Payment Guarantee, which provides 100% indemnification from fraudulent chargebacks, with Stripe Radar’s risk scores to help merchants increase transaction approval rates and prevent both first-party and third-party chargebacks.
This partnership is particularly beneficial for merchants facing high fraud risks or excessive disputes.
The Vesta Payment Guarantee will be available on the Stripe App Marketplace in the first half of 2024.
Additionally, Vesta will integrate Stripe Connect, enabling businesses to facilitate purchases and payments between third-party buyers and sellers.
This integration will provide Vesta merchants and their customers with a holistic solution that not only mitigates fraud and risk but also streamlines payment processing.
“We couldn’t have asked for a more symbiotic partnership. Vesta and Stripe share a goal of making online transactions as simple and worry-free as possible, and collaborating with Stripe allows Vesta to directly reach more merchants with what we love to do – help them grow revenue and eliminate the losses from fraud. The real winners here are the merchants we will jointly serve.”
said Ron Hynes, CEO of Vesta.