Giftango and Vesta partnership redefines the standard of fraud management for virtual eGift cards and guarantees payments for all accepted transactions
PORTLAND, Ore. – MobilityWire® – May 4, 2011
Giftango Corporation, the leader in virtual eGift cards, today announced the addition of new indemnified payment services to their Premium Turnkey ecommerce offering through a partnership with Vesta Corporation.
How Giftango Fraud Management Works for Merchants
When a consumer purchases a virtual eGift card powered by Giftango, it is delivered instantly to the recipient’s email and/or smartphone. Instant delivery conveniently allows the consumer to interact with the brand in new ways. However if a purchase is made using a stolen credit card, the speed at which the gift card is delivered opens the door to fraudulent credit card transactions. Thanks to Giftango’s partnership with the best-in-class indemnified payments provider, Vesta Corporation, the risk of consumer payment fraud no longer resides with the merchant.
“We are absolutely committed to making a merchant’s experience using virtual eGift cards as easy and safe as possible,” said Giftango CEO, David Nelsen. “Giftango’s partnership with Vesta ensures our customers receive the highest level of indemnified payments in the market, significantly higher than the market has previously seen. The importance of this step for our industry cannot be overstated.”
The Giftango and Vesta partnership will maximize revenue for the merchant and guarantee all accepted transactions. By leveraging systems that process hundreds of millions of electronic transactions, Giftango can now support all the aspects of payment indemnification and remain on the cutting edge of technology in the stored value space.
“Giftango came to us with an impressive platform and an even more impressive list of customers in the virtual eGift card marketplace,” said Vesta Corporation CEO, Doug Fieldhouse. “Both Vesta and Giftango understand that fraudulent transactions pose a serious risk to merchants, often causing them to lose money and time, which can often limit the products they sell. The combination of Vesta’s fraud management expertise and Giftango’s electronic gifting technology will deliver risk-free transaction acceptance for eGift merchants — further enhancing Giftango’s offering with clients.”
Through the partnership, the Giftango Premium Turnkey solution offers 24/7 call support in multiple languages. When questionable transactions are identified, the user interface provides prompts to assist with the transaction. The merchant pays one flat fee for all services rendered, including: fulfillment of virtual cards, customer service, processor connectivity, payment processing and indemnification from fraudulent transactions.
How Has a New Standard Been Set?
Brand Protection: Providing indemnification from transaction fraud is not something an inexperienced company should take on for its merchants. The liability profile is high and losses — in dollars or reputation — can significantly damage a brand. Selecting Vesta to manage this responsibility fully protects Giftango and its customers.
Higher Sales Throughput: Brands can experience additional sales volume by not turning away good transactions. The Giftango/Vesta partnership will lead to the highest sales throughput for branded eGift products, while not upsetting customers by turning away their transactions. Vesta’s expertise in this space has been earned and refined by processing hundreds of millions of transactions over the past 15 years.
24×7, Multi-lingual Support for Electronic Transactions Made Around the World: Vesta provides 24×7 customer care in support of international transactions so consumers are ensured the best possible branded experience for eGift purchases.
About Vesta Corporation
Headquartered in Portland, Oregon, with operations in Europe and China, Vesta has been a pioneer and worldwide leader in electronic payment solutions since 1995. Vesta has established long-term, successful relationships with leading telecommunications and financial companies including AT&T, Boost Mobile, Bank of China, Bank of Ireland, Chase Paymentech, China Mobile, China Telecom, Cricket Communications, Green Dot, Metavante, NetSpend, O2, Sprint, T-Mobile, Verizon, and Vodafone. For more information on Vesta, visit www.trustvesta.com.
Giftango Corporation, founded in 2005, has redefined gifting with their innovative delivery of virtual eGift cards to email and mobile phones. Merchants utilize the Giftango platform to power e-commerce sales, a wide variety of promotions as well as distribution through 3rd parties.
Hundreds of merchants rely on Giftango for the delivery of virtual eGift products. Giftango’s customer base spans across more gift card processing platforms than any competitor in the market. For more information on Giftango, visit www.giftango.com.
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