In October SafeCharge, a Nuvei Company, received Mastercard’s coveted ‘Market Shaker’ Award for its significant contributions as a partner. It is a tremendous honour to receive an award from one of the largest and most established payment companies in the world.
Phil Atherton, our Chief Risk Officer, received the award on behalf of SafeCharge. Phil and his team oversee risk management and fraud prevention solutions. The SafeCharge risk portfolio includes several solutions: chargeback management and reports, fraud rules and reports (including white listings), 3DSecure and eKYC solutions.
SafeCharge, principal member of Mastercard and Visa since 2015, works directly with the schemes, without any intermediary provider in-between. This enables us to quickly and easily adjust our technology to accommodate solutions developed by the two schemes. MasterCard and Visa consider us a flexible and innovative partner and an early adapter of their evolving business solutions, unlike most traditional global acquirers. Furthermore, this enables us to open new accounts swiftly and easily; this has led to consistently high-volume growth (between 50% to 100%) in our acquiring business year after year.
A good example for SafeCharge’s proactive approach with the schemes is by implementing speedier bank transfers where users can receive fund disbursements within 30 minutes. Insurance companies, for example, frequently need to transfer money to their customers when they pay back their claims. Visa developed Visa Direct in order to allow banks and businesses to “push” money to a recipient with only their debit card number. Because it doesn’t rely on a bank’s ACH system, the cardholder doesn’t need to provide his bank’s routing or account number to get his money. For the last year now SafeCharge has enabled its customers to send quick payments via Visa Direct, and we are now working on the launch of the MasterCard Send solution for our SafeCharge merchants.
The symbiotic relationship between SafeCharge and Mastercard was a key factor in honouring us the MCDS Market Shaker Award for ‘priceless contribution in the Development of a cashless payment society’.
We are delighted to have been recognised for our efforts in driving digital payments solutions, security products and fraud prevention systems. This recognition motivates us to invest further development to card-not-present merchant payment technology and to continue to nurture our close partnerships with the two schemes.