LOS ANGELES, March 17, 2022 /PRNewswire-PRWeb/ -- Vesta, a leading transaction guarantee platform for online purchases, today announced that it has been recognized for the second consecutive year as "Best Financial Transaction Security Platform" in the sixth annual FinTech Breakthrough Awards. The program is led by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market today.
Vesta's fraud prevention solutions – Payment Guarantee and Payment Protect – enable eCommerce companies to grow their business by focusing on revenue rather than fraud risk. The solution maximizes revenue by reducing the number of false positives and customer friction points associated with payment denials and approval delays. Vesta helps merchants reduce the operational costs of chargeback remediation and tedious manual reviews while, at the same time, enabling fraud and risk teams to make better approval decisions. This leads to more approved legitimate transactions.
The FinTech Breakthrough Awards recognizes FinTech innovators, leaders, and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2022 FinTech Breakthrough Award program attracted more than 3,950 nominations from across the globe.
"Stopping fraud is one thing—approving more transactions is another. Vesta is a fintech pioneer in fraud protection and fully guaranteed payment technologies. Their machine learning intelligence represents a true fintech breakthrough, ensuring good transactions are rightfully accepted, rather than rejected over fear of fraud. Congratulations to the entire Vesta team on being our choice for 'Best Financial Transaction Security Platform." said James Johnson, Managing Director, Fintech Breakthrough.
"We are honored to receive this award from FinTech Breakthrough. Fraud is a serious problem for merchants, both directly and indirectly. Often times, merchants hurt their businesses more by being so focused on preventing fraud that they reject many transactions where they are not 100% certain of their legitimacy. This means lost sales and lost revenue." said Ron Hynes, CEO of Vesta, "Our solutions allow our customers to focus on growing their business and eliminating their fear of fraud.
Payment Guarantee offers card-not-present transaction fraud detection that reduces merchants' risk of revenue leakage from fraud to zero, while increasing transaction approval rates. Backed by a 100% no fraud guarantee, Payment Guarantee is a managed service that handles all aspects of payment fraud detection, including manual reviews and chargeback representation, on behalf of merchants. Vesta taps into the power of Artificial Intelligence (AI) to tailor Payment Guarantee to each specific business, vertical, business model and risk profile. Transaction analysis occurs in real-time, with results delivered in under a second.
Payment Protect provides highly accurate payment fraud detection in the form of machine learning-based risk scoring that is tailored to each merchant's unique business. Each result comes with real-time decision insights, so merchants better understand the aspects of a transaction that are driving its overall riskiness.
Additionally, Vesta's technology is truly industry agnostic. Whether supporting telecommunications customers or any number of online merchants, payment service providers or channel partners, Vesta's products can protect against payment fraud.
To learn more about Vesta products, visit vesta.io.
About Vesta Corporation
Vesta is an end-to-end transaction guarantee platform for online purchases, delivering unparalleled approval rates, a better customer experience, and eliminating fraud for leading brands in telco, e-commerce, travel, and financial services. Using machine learning backed by 26 years of fraud-fighting experience and historical transaction data, Vesta increases approvals of legitimate sales for its customers, while eliminating chargebacks and other forms of digital fraud, driving the true cost of fraud to zero and taking on the liability for fraud so merchants can focus on increasing sales. The company is headquartered in Portland, OR, with offices in Atlanta, Miami, Ireland, Mexico, and Singapore. For more information visit vesta.io.
About FinTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.
James Johnson, FinTech Breakthrough, 213.255.3658, [email protected]
Anna DeMent, Vesta, 503.552.3464, [email protected]
SOURCE FinTech Breakthrough