Manila, Philippines, November 15, 2021 / PRNewswire / – PLDT, Inc. (PLDT), The Philippines’ the world’s largest fully integrated telecommunications company, and its wireless business unit Smart Communications, Inc. (Smart) announced they are using Vesta’s anti-fraud solutions to enhance the protection of online transactions made by customers through their channels digital.
Vesta is one of the world’s leading end-to-end instant transaction guarantee platforms for online purchases, and its anti-fraud solution has been used by PayMaya Philippines (PayMaya), the fintech arm of Voyager Innovations, a subsidiary of PLDT , to be offered to its customers. PayMaya powers payment acceptance for PLDT and Smart digital channels. He is The Philippines’ the only end-to-end digital financial services platform company, with the largest and fastest growing enterprise payment processor today.
Through this initiative, PLDT and Smart customers can enjoy safer, more secure and more transparent online payment transactions using PayMaya’s payment acceptance solutions, with Vesta’s anti-fraud tools.
Vesta has over two decades of experience in the global telecommunications industry and works with leading telecommunications brands around the world. Vesta’s real-time decision-making platform provides the analytics and authentication technology required to increase approvals of legitimate transactions, while rejecting bad ones. This ensures that PLDT and Smart customers can make payments with confidence across various national and international digital channels.
“The combination of PLDT’s customer-centric digital solutions, PayMaya’s industry-leading payment acceptance solutions, and Vesta’s artificial intelligence (AI) -based fraud detection and approval enhancement capabilities enables us to deliver superior customer-centric services and provide our customers with the best possible payment experience. We will continue to push the boundaries of fintech as we rapidly transition to a landscape where more Filipinos are digitally empowered, ” noted Di Blanco, Vice President of PLDT and Smart Customer Experience.
According to the e-Conomy SEA 2020 report from Google, Temasek and Bain & Company, with the pandemic requiring mobility restrictions and contactless services, 37% of digital service consumers in the Philippines were new to digital services, which is slightly above the SEA on average of 36%, with 95% of these new consumers intending to continue their behavior after the pandemic.
Additionally, a recent survey conducted by Vesta found that one in three consumers in Southeast Asia has been the victim of online fraud. About a third of all buyers in the Philippines specifically rank safety and security as their number one e-commerce concern, which is why customer-centric technology companies like PLDT and Smart are looking for world-class solutions provided by companies like Vesta. .
“We are delighted to be able to help PLDT and Smart strengthen their commitment to providing a safe, secure and frictionless payment experience to PLDT customers through PayMaya solutions. Our mission is simple: to help businesses evolve their digital payment touchpoints with greater confidence by leveraging our end-to-end transaction guarantee platform for domestic and international transactions ”, noted Shabab Muhaddes, Managing Director of Vesta in the Asia Pacific.
More information about Vesta and its suite of fraud prevention and transaction assurance solutions can be found at www.vesta.io.
About Vesta Corporation
Vesta is the only end-to-end, instant transaction guarantee platform for online shopping, delivering unmatched approval rates, better customer experience and eliminating fraud for major brands in telecommunications, e-commerce, travel and financial services. Using machine learning backed by 25 years of transactional data history, Vesta increases legitimate sales approvals for its customers, while eliminating chargebacks and other forms of digital fraud, reducing the true cost of fraud to zero. and transferring 100% of responsibility for fraud, including the processing of chargebacks, so merchants can focus on increasing sales. The company is headquartered at Portland, OR, with offices in Atlanta, Miami, Ireland, Mexico, and Singapore. For more information, visit www.vesta.io.
About other companies
PayMaya is the only end-to-end digital payments ecosystem catalyst in The Philippines with platforms and services that reach consumers, merchants, communities and government. Through its corporate operations, it is the largest digital payments processor for key industries in the country, including ‘everyday’ traders such as the largest retail, grocery, gasoline and other traders. e-commerce as well as government agencies and units.
PLDT is The Philippines’ largest fully integrated telecommunications company. Through its main business groups – from fixed to wireless – PLDT offers a wide range of telecommunications and digital services through The Philippines’ the most extensive fiber optic backbone and fixed and cellular networks.
Clever is a wholly owned wireless communications and digital services subsidiary of PLDT, Inc. Smart serves approximately 96% of cities and municipalities nationwide through its combined 2G, 3G, 4G LTE and 5G network, providing mobile communications services , Broadband internet connectivity and access to digital content and services to 72 million Filipinos, supporting the country’s growing digital economy and providing the best customer experience for an increasingly digital Filipino lifestyle.
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