Mastercard Now Offering Kount Payment
Fraud Prevention and Chargeback Mitigation to Payment
Providers and Merchants
ATLANTA and NORTHAMPTON, Mass., Dec. 5, 2024
/PRNewswire/ -- Equifax® (NYSE: EFX) and Mastercard (NYSE: MA) have
joined forces to empower Latin American financial institutions,
payment service providers, acquiring banks, and merchants to
overcome payment fraud challenges without disruption
to the customer experience.
Enhanced fraud management tools, including
Mastercard Identity, Ethoca Alerts and Ethoca Consumer Clarity
are now available to Mastercard business customers in
Latin America through the Kount Payment Fraud
solution from Equifax. The combined solutions protect the
entire digital payments environment through identity verification
and fraud risk assessment while preventing
chargebacks through order validation and alerting services.
Latin America has one of the
highest fraud rates globally, with studies showing
that merchants are losing upward of 4.6% of their e-commerce
revenue to payment fraud. With e-commerce revenue
expected to nearly double in the region from $85 billion in 2021 to $160 billion by next year, Equifax and Mastercard
are helping empower businesses to achieve their full growth
potential by stopping threats in real time.
The Kount Payment Fraud solution from Equifax is
used by more than 20,000 businesses operating in more than 40
countries around the world due to its real-time fraud
prevention capabilities during transactions.
"As a global leader in fraud prevention, we are
thrilled to work with Mastercard to help Latin American merchants
and partners combat fraud and continue to innovate
across the financial sector," commented Chris Jones, President of Equifax Latin America.
"This strategic alignment will provide safer payment transactions
and reduce chargebacks, enabling businesses of all sizes in
Latin America to improve their
bottom line."
"Adding to our existing capabilities, this collaboration is the
next step in our journey to make the digital economy safe and more
seamless for payment providers and merchants in the region," said
Ana Lucia Magliano, Executive Vice
President, Services, Mastercard Latin America and the Caribbean. "By working together, we're
advancing our shared goal of not only meeting the payments
ecosystem security needs, but also addressing a broader effort to
enhance the consumer's digital experience."
The Kount Payment Fraud solution is available in
collaboration with Mastercard to financial institutions, payment
service providers, acquirers, merchants and others across
Latin America, excluding
Brazil. For more details, visit
https://kount.com/equifax-mastercard.
ABOUT EQUIFAX INC.
At Equifax
(NYSE: EFX), we believe knowledge drives
progress. As a global data, analytics, and technology company, we
play an essential role in the global economy by helping financial
institutions, companies, employers, and government agencies make
critical decisions with greater confidence. Our unique blend of
differentiated data, analytics, and cloud technology drives
insights to power decisions to move people forward. Headquartered
in Atlanta and supported by nearly
15,000 employees worldwide, Equifax operates or has
investments in 24 countries in North
America, Central and South
America, Europe, and the
Asia Pacific region. For more
information, visit Equifax.com.
ABOUT MASTERCARD
Mastercard is a global
technology company in the payments industry. Our mission is to
connect and power an inclusive, digital economy that benefits
everyone, everywhere by making transactions safe, simple, smart and
accessible. Using secure data and networks, partnerships and
passion, our innovations and solutions help individuals, financial
institutions, governments and businesses realize their greatest
potential. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all.
FOR MORE INFORMATION:
Mario Arrua
(Latin America) or
Tiffany Smith (US) for
Equifax
mediainquiries@equifax.com
Andrea Denadai for Mastercard
Andrea.denadai@mastercard.com
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SOURCE Equifax Inc.