View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
November 3, 2020

Philippines’ PayMongo taps Vesta to improve fraud detection capabilities

The Philippines-based online payment processing platform PayMongo has partnered with fraud detection platform Vesta to secure online payments.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

The tie-up with Vesta equips PayMongo with a full suite of fraud and risk assessment solutions.

It enables PayMongo to protect customers’ accounts, add fraud assessment and real-time reporting capabilities for over 5,000 Filipino merchants.

Vesta Asia Pacific GM Shabab Muhaddes said: “We are excited to partner with PayMongo, and saw a great match in PayMongo’s commitment to always cater to their merchants’ needs that made this partnership come to fruition especially during a time where businesses require the support they need to continue growing digitally – this ties back to Vesta’s mission of helping companies to grow their online businesses by eliminating the fear of fraud and focus on what really matters for success, growing revenue.”

The newly-added capabilities add to PayMongo’s existing value proposition.

These include free sign-up and zero monthly fee, automated onboarding, API integration for e-commerce merchants, and more.

PayMongo also allows merchants to accept credit and debit cards, and e-wallets, via its PayMongo Links and e-commerce plug-ins.

The partnership utilises Vesta’s real-time decisioning platform and PayMongo’s online payment platform for fraud protection in the country.

PayMongo co-founder and CEO Francis Plaza said: “One of PayMongo’s strong points is our robust fraud detection system. Still, we continue to improve and innovate. With its track record, Vesta is a natural choice for PayMongo to help us amplify the protection we give our merchants.”

The latest partnership comes close on the heels of PayMongo’S $12m Series A funding round led by US-based payments processing company Stripe.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International