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Vesta releases solution to 'prevent online, mobile fraud'

Built to combat the rising trend of fraud in e-commerce, vGuaranteed is a "revenue-generating payment solution for digital goods, services and subscriptions."

May 21, 2015

Vesta Corporation has introduced the vGuaranteed payment solution for online retailers. Built to combat the rising trend of fraud in e-commerce, vGuaranteed is a "revenue-generating payment solution for digital goods, services and subscriptions that are delivered in real time," according to a company release.

"Vesta's team of data scientists has the experience and training necessary to monitor transactions and stop fraud in its tracks," Christopher Uriarte, Vesta's chief payments and product officer, said in a statement. "Since Vesta gets paid only on approved transactions, we are completely aligned with the merchant. Fraudulent payments rarely occur with Vesta, but even if they do, the retailer is fully protected from the consequences."

Vesta's vGuaranteed product is designed to protect retailers from the cost of fraudulent purchases by ensuring payment of all accepted CNP transactions and eliminating any liability expenses, including chargebacks and fines, according to the release.

"Consumers and retailers are moving to online and mobile transactions, and fraudsters are following them," Uriarte said. "Traditional fraud prevention systems are often helpless in this new space, so it's essential for online retailers to seek out robust CNP-specific solutions."