LAKE OSWEGO, Ore., Feb 25 (Bernama-BUSINESS WIRE) — Vesta, a pioneer in guaranteed payments and fraud detection, is making a concerted push into the Asia Pacific region with a new office in Singapore. Payments industry leader Shabab Muhaddes, formerly of Visa and Mastercard, has been tapped to spearhead the expansion efforts as Vesta’s Asia Pacific general manager.
As growth in card-not-present transactions continues to accelerate across the region, fraud management poses a unique challenge for organizations. Despite the growth of fraud – including account takeovers, transaction fraud, e-skimming and brute force attacks driven by professional crime rings — most organizations are still reliant on reactive strategies, using manual safeguards and low-tech models with high operating costs to manage these events, resulting in lost revenue and poor consumer experiences.