“One of the most important success criteria our customers evaluate us on is our transaction acceptance rate. That criterion is as important today as it was when we started in 1995.”Jonathan Le, Chief Risk and Data Officer at Vesta Corporation.
Vesta was the first company to offer an integrated risk/payment solution that fully guaranteed accepted transactions, eliminating chargebacks and related fines and fees for its customers. Since pioneering guaranteed card-not-present (CNP) payment transactions for the telecommunications industry, Vesta has expanded its offerings to support all merchants selling goods and services online.
Vesta’s indemnified payments solution allows customers ranging from e-commerce to enterprise environments to reduce channel costs, fraud, and operational costs inherent in the CNP space.
Vesta’s customers—including a global leader in cross-border, cross-currency money movement—use Vesta’s payment service to indemnify money transfers made over the phone. Vesta takes complete responsibility for the transfers.
On behalf of its global money-movement customer, Vesta uses Neustar Inbound Authentication, powered by TRUSTID technology, on a direct telephone number for money transfers to assess the risk of calls before they’re answered.
This patented network forensic technology confirms that the calling and called numbers are engaged in a call, and that the routing of the call through the phone network matches expected patterns.
“The beauty of TRUSTID’s technology is in its simplicity,” says Le. “It tells you whether the caller is calling from the claimed phone number (ANI) for the call. That said, in order for one to fully utilize TRUSTID’s technology, one should look at both the positive authentication it brings as well as the negative risk warning it might indicate. One should absolutely make sure that both sides of the signal are being utilized. We have used TRUSTID’s technology for a couple of years now. It has delivered the result we expected and increased our transaction acceptance rate by up to 10%.”