E-commerce payment fraud is a significant issue in Latin America, causing losses amounting to 4.6% of revenue. To tackle this challenge without compromising the user experience, Equifax and Mastercard have joined forces to offer innovative solutions.
The urgency of these measures is heightened by the rapid growth of e-commerce in the region, with the market volume expected to reach $160 billion by next year, up from $85 billion in 2021.
Through this collaboration, Mastercard will provide advanced tools such as Mastercard Identity, Ethoca Alerts, and Ethoca Consumer Clarity, integrated into Equifax’s Kount Payment Fraud solution. These tools will be operational across Latin America, excluding Brazil, to help merchants and financial institutions reduce fraud and prevent chargebacks.
With this initiative, Equifax and Mastercard aim to make the digital payment ecosystem more secure, contributing to the sustainable growth of the sector and enhancing the consumer experience.
