Vesta, a leading global transaction guarantee platform for online purchases, today announced that the Vesta Payment Guarantee™ solutions is now available as an extension on Shopify, the leading provider of essential internet infrastructure for commerce, to help increase legitimate transaction approval rates for Shopify merchants across the United States, Canada, and Mexico.
The easy-to-install extension, which leverages advanced machine learning models and link analysis for all transactions in real-time, helps online store owners make the shift to zero fraud liability by eliminating chargebacks and approving more good transactions. Merchants get a 30-day free trial and flexible, tiered pricing options that scale for any size business.
“Vesta’s model is to approve as many legitimate transactions as possible to help businesses maximize their revenues,” said Hrishi Talwar, Chief Product Office of Vesta. “With our dynamic data network based on trillions of data points and machine-based learning, Shopify business owners can operate with ease knowing that they are protected by Vesta’s 100% payment guarantee.”
It is estimated that $300B in annual global revenue is lost due to false declines, resulting in the average eCommerce merchant spending almost $4 fighting fraud for every $1 of direct fraud loss. Differentiated by strong data science and a deep understanding of the globe’s most serious threats and challenging markets, Vesta delivers highly-automated API-based technology to increase card-not-present (CNP) approval rates by an average of 10%.
