Marqueta Launches Risk Management Suite

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Global card-issuing platform Marqeta introduces a new suite of products the company says will help customers using its card-issuing platform fight fraud – an issue that is expected to generate losses $400 billion over the next 10 years.

The Oakland, Calif.-based company said in an announcement that the suite, called RiskControl, “is designed to provide Marqeta customers with comprehensive risk, compliance and fraud management capabilities across the life cycle. life of the cardholder”.

One of the features is a set of “finely tuned transaction controls” that Marqeta says will help reduce payment fraud. RiskControl also includes updated versions of existing Marqeta products.

RiskControl is a suite of four products: a Know Your Customer (KYC) identity verification system; a real-time decision solution to manage payment fraud; a 3D Secure tool to authenticate online transactions; and a dispute management tool to manage disputes and chargebacks.

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According to Marqeta, more than 450 billion card payments worldwide were processed in 2020, and the pandemic has only increased the demand for digital transactions.

“When we talk to our customers, the threat of payment fraud consistently comes up as one of their biggest business concerns. We see the rise in global fraud placing a heavy burden on card issuers and processors, heightening the need to offer highly effective risk and fraud management solutions tailored to individual cardholder experiences. card,” said Randy Kern, chief technology officer of Marqeta, in a prepared statement. .

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