PayMongo has announced its partnership with Vesta to further enhance the company’s advanced fraud detection capabilities.
PayMongo’s collaboration with Vesta comes after its Stripe-led USD 12 million Series A funding. The partnership adds fraud assessment, customer account protection, and real-time reporting for PayMongo’s merchants. These features will be added on top of the company’s existing offering, which provides an automated onboarding process, API integration for websites and apps, as well as the ability to accept digital payments such as credit cards, debit cards, and e-wallets through the PayMongo Links product and e-commerce plug-ins.
It is a timely and relevant partnership between PayMongo and Vesta with the growing concerns over online fraud as much as digital transactions in the Philippines increased during the pandemic. The collaboration leverages on Vesta’s real-time decisioning platform – built on data science and machine learning with 25 years of intelligence, and PayMongo’s uncomplicated online payment platform.
Francis Plaza, PayMongo co-founder and Chief Executive Officer, 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.”
Shabab Muhaddes, Vesta General Manager in the Asia Pacific, 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,”
