Sumsub, a global full-cycle verification platform, has joined the Mastercard Engage Partner Program as a technology partner focused on Digital First solutions. Sumsub will provide the full suite of verification and anti-fraud solutions to ensure customer onboarding and continuous compliance journey.
Sumsub will speed up customer onboarding processes, reduce fraud risks and enhance trust, ultimately driving growth by enhancing the digital experience for end users. The Engage Program makes it easier for partners to create, launch and deploy payment solutions for Mastercard’s global customer network and accelerate time to drive product innovation while enabling seamless payment experiences.
Sumsub will offer its Know-Your-Customer (KYC) products to Mastercard customers implementing Digital First solutions. These solutions will ensure fast, secure and compliant onboarding experiences with track and trace capabilities of the next user journey, mitigating illegal activity during sign-up and sign-up to transaction completion.
As fraud continues to increase, there is an urgent need for reliable transaction monitoring and payment control tools. Sumsub’s platform incorporates features such as chargeback prevention and fraud detection, enabling companies to effectively mitigate the risks associated with fraudulent activities and unauthorized transactions.
“We are excited to join the Mastercard Engage Partner Program. It’s important for companies – especially businesses that are responsible for high transaction volumes – to provide their partners with the tools they need to protect themselves and their customers and improve user experiences. They require ongoing fraud prevention measures that extend beyond the user onboarding phase,” says Martin ten Houten, VP Business Development, Europe at Sumsub. “This confirms our commitment to simplify and facilitate the verification process for fintech businesses, while ensuring the highest level of compliance thanks to our integrated solutions.”