Marqeta Announces RiskControl, an End-to-End Risk Management Suite of Products for Card Issuers to Combat Payment Card Fraud – Yahoo Finance | Region & Cash

Marqeta RiskControl is a comprehensive suite of risk management products designed for customers using its global modern card issuance platform, providing card issuers with control over card transactions, optimizing performance and mitigating program risk and compliance impact.

OAKLAND, California, April 21, 2022–(BUSINESS WIRE)–Marqeta (NASDAQ: MQ), the global modern card issuance platform, today announced its new RiskControl solution, a comprehensive suite of products designed to help its customers better optimize their card programs and gain control over end-to-end – End risk management. RiskControl is designed to provide Marqeta’s customers with comprehensive risk, compliance and fraud management capabilities across the cardholder lifecycle so they can focus on growing their business. RiskControl is anchored by the launch of a powerful new anti-fraud solution – Real-Time Decisioning – that enables card programs to develop fine-grained transaction controls and help limit payment fraud. In addition, RiskControl includes newly enhanced versions of Marqeta’s Know Your Customer (KYC) and Disputes products alongside the previously announced 3D Secure.

Global card payments are increasing every year, with more than 450 billion card payments being processed in 2020 alone. With the pandemic-driven payments digital transformation, the risk of fraud is also increasing significantly, underscoring the need for card issuers to provide businesses with next-level control to accurately contain fraud. Marqeta’s RiskControl solution was developed as a direct offering to reduce risk for its customers, enabling them to stay ahead of fraud and streamline their risk and compliance programs without compromising the cardholder experience or that to slow the growth of the card program.

“When we speak to our customers, the threat of payment fraud is consistently raised as one of their top business concerns. We see the global increase in fraud taking a heavy toll on card issuers and processors, reinforcing the need to offer highly effective risk and fraud management solutions tailored to unique cardholder experiences,” said Randy Kern, Marqeta’s Chief Technology Officer “Marqeta’s deep card issuance expertise helps us deliver a unique end-to-end fraud and risk management solution specifically tailored for card issuance transactional data. We put the technology in the hands of our customers and create it.” Proactive growth potential from protection against the growing risk of fraud.”

Marqeta’s customers already using RiskControl include Klarna, Yonder and Branch. RiskControl’s core products – KYC, Real-Time Decisioning, 3D Secure and Disputes – are designed to manage risk and compliance across the entire cardholder lifecycle, from customer onboarding and KYC to payment transactions and dispute management.

  • Know Your Customer (KYC) provides identity verification capabilities designed to meet compliance requirements, block fraudsters, and allow businesses to securely onboard cardholders with minimal fuss. Improvements to Marqeta’s KYC solution can improve success rates, allowing card programs to quickly onboard more customers and reduce their time to value.

  • Real-time decisioning enables organizations to develop fine-grained card transaction controls from hundreds of data attributes – including card network risk scores – to manage payment fraud. Issuers have real-time control over their card payment transactions while ensuring they are only accepted in accordance with a strict set of business rules. They can also monitor and review transactions to continuously improve their rules as business needs and external threats evolve. Developed in partnership with Featurespace, Real-Time Decisioning was rolled out in beta to select customers and is expected to be generally available later this year.

  • Marqeta’s 3D Secure tool enables issuers to create customized authentication experiences for online transactions. 3D Secure allows users to leverage their own business logic and data to prevent fraud without adding unnecessary friction or cardholder abandonment.

  • Marqeta’s disputes tool provides risk operations teams with a streamlined process for handling disputes and chargebacks, accelerating resolution time and improving the overall cardholder experience. Marqeta customers can use the Marqeta dashboard and program administration services to help them effectively create, submit and manage disputes at scale. Advanced API functionality is currently available to Marqeta customers in beta and is expected to be generally available later this year.

Marqeta’s data-driven RiskControl offering empowers users to take their risk management to the next level. Its customers will have full control over the card program, gaining real-time insights and building controls tailored to cardholders. RiskControl aims to overhaul the old-fashioned way of managing risk and implement an innovative all-in-one solution designed for risk teams managing card programs.

“Marqeta’s Real-Time Decisioning solution is an important tool in helping us stay ahead of potential fraud issues,” said Theso Jivajirajah, Yonder’s Chief Risk Officer. “We’ve already seen how Marqeta’s flexible controls have helped us fight fraudulent transactions before they happen and provide a better experience for our customers.”

Learn more about Marqeta’s RiskControl solution here: marqeta.com/platform/riskcontrol

About Marqeta (NASDAQ:MQ)
Marqeta’s modern card issuance platform enables its customers to create customized and innovative payment cards. Marqeta’s modern architecture empowers its customers to build more configurable and flexible payment experiences, reduce time to market and democratize access to card issuance technology. Marqeta’s open APIs provide instant access to a highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards, and authorize and process payment transactions. Headquartered in Oakland, California, Marqeta is certified to operate in 39 countries worldwide. For more information, visit www.marqeta.com, Twitter and LinkedIn.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, expressed or implied in this press release, include, but are not limited to, quotations and statements relating thereto the capabilities and potential adoption of Marqeta’s products and services and anticipated needs for Marqeta’s products and services. Actual results could differ materially from expectations contained in these statements due to risks and uncertainties, including but not limited to the following: all factors affecting the impact of uncertainties related to the global COVID-19 pandemic on the US and global economies creating and demand for Marqeta’s products and services; the risk that Marqeta may become unable to attract and retain customers; the risk that consumers will not take advantage of Marqeta’s products and services; the risk that Marqeta’s products and services may not perform as intended; the risk that Marqeta’s products and solutions may not achieve anticipated market acceptance; and the risk that competition may reduce expected demand for Marqeta’s products and services. Detailed information regarding these risks and other factors that could potentially affect Marqeta’s business, financial condition and results of operations are included in “Risk Factors” filed in Marqeta’s Annual Report on Form 10-K for the year ended December 31, 2021 as such risk factors may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date of this release. Marqeta disclaims any obligation to update any forward-looking statement, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220421005205/en/

contacts

Media:
James Robinson
530-913-0844
jrobinson@marqeta.com

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