Nasdaq-listed card issuing platform, Marqeta introduced the RiskControl solution, the company’s new product suite to facilitate its customers in better optimization of their card programs, today. RiskControl is an end-to-end risk management suite of products for card issuers to combat payment card fraud.
With more than $450 billion worth of card payments processed in 2020, the overall volume of international card payments has jumped sharply since the outbreak of the pandemic. According to Marqeta, the company’s RiskControl solution will allow clients to streamline their risk and compliance programs.
“When we talk to our customers, the threat of payment fraud comes up consistently as one of their biggest business concerns. We’re seeing fraud increases worldwide weigh heavily on card issuers and processors, intensifying the need to offer highly effective risk and fraud management solutions that are tailored to individual cardholder experiences,” said Randy Kern, the Chief Technology Officer of Marqeta. “Marqeta’s deep expertise in issuing helps us provide a unique, end-to-end fraud and risk management solution that is specifically tailored to card-issuing transaction data.”
Card Payments
Due to the rising popularity of digital tools in the global payments industry, several threats have emerged regarding the security of the transactions. As a result, prominent names in the fintech sector have adopted risk-management solutions to make the entire process secure and frictionless for customers. Marqeta mentioned that Klarna, Yonder and Branch are already using its RiskControl solution.
“Marqeta’s Real-Time Decisioning solution is an important tool in helping us to stay ahead of potential fraud concerns,” said Theso Jivajirajah, the Chief Risk Officer of Yonder. “We've already seen how Marqeta's flexible controls have helped us fight against fraudulent transactions before they happen, giving our customers a better experience.”
Headquartered in Oakland, California, Marqeta is currently operating in 39 countries around the world.
