On Thursday, Equifax, Inc. (NYSE:EFX) announced it partnered with Mastercard Incorporated (NYSE:MA) to help Latin American financial institutions, payment service providers, acquiring banks, and merchants tackle payment fraud.
Mastercard business customers in Latin America will now have access to enhanced fraud management tools, including Mastercard Identity, Ethoca Alerts, and Ethoca Consumer Clarity, through Equifax's Kount Payment Fraud solution.
These integrated solutions safeguard the digital payments ecosystem with identity verification, fraud risk assessment, and chargeback prevention via order validation and alerting services.
Equifax's Kount Payment Fraud solution and Mastercard are expected to help businesses stop threats in real time to drive growth and protect revenue.
Chris Jones, President of Equifax Latin America, stated, "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 of services, Mastercard Latin America and the Caribbean.
Notably, according to a merchant-savvy report, Latin America, where merchants lose over 4.6% of e-commerce revenue to fraud, is set to see e-commerce nearly double to $160 billion by 2025.
Investors can gain exposure to the EFX via Virtus ETF Trust II Virtus KAR Mid-Cap ETF (NYSE:KMID) and Fidelity Disruptive Finance ETF (NASDAQ:FDFF).
Price Action: EFX shares are up 0.22% to $261.35 premarket at the last check on Friday.
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