Mastercard Partners With Ravelin to Drive Quick Commerce Fraud Reduction

Fraud detection and prevention powered by machine learning (ML) platform Ravelin is partnering with global payments giant Mastercard to deliver an enhanced solution that integrates digital identity verification capabilities to enable secure quick commerce.

Ravelin will tap Ekata to verify digital identities and Ethoca to analyze real-time fraud insights with the aim of helping merchants streamline the validation of a consumer’s identity without adding friction to the process, according to a Wednesday (Oct. 5) press release.

“We all want secure and seamless experiences,” said Chris Reid, executive vice president of Identity Solutions at Mastercard.

Reid said that by collaborating with Ravelin, a company that shares its “longstanding commitment to building and reinforcing trust in the digital economy,” they can better serve merchants.

“By bringing our capabilities together, we can help quick commerce merchants better assess fraud before a payment is authorized, improving the checkout experience,” Reid added.

See also: Mastercard Adds Security Tool for Crypto Transactions

Ravelin uses Ekata’s transaction risk API to verify a user’s first transaction, according to the release. A risk score is assigned by Ekata, which is aimed at making it easier for businesses to make decisions with more information.

After the transaction, Ravelin works with Ethoca Alerts and Ethoca Consumer Clarity to assist merchants in detecting fraud and preventing chargebacks

“Mastercard is dedicated to bringing best-in-class insights and solutions to merchants worldwide,” Ravelin CEO Martin Sweeney said in the release. “We are thrilled to partner with Mastercard to enhance our platform and help merchants strengthen their fraud detection capabilities.”

Related: New Report: Small Merchants Found More Effective Than Enterprise Rivals in Resolving Credit Card Disputes

Founded in 2014, Ravelin is headquartered in London. Its goal is to quickly and accurately predict risk and provide technology and support so online businesses can prevent fraud and accept payments with confidence, according to its website.

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