Sumsub, a global verification platform, recently became a technology partner in MasterCard's Engage Partner Program, focused on digital-first solutions. The partnership is designed to enhance security and streamline the customer onboarding process.

As part of the partnership, Sumsub will offer its range of authentication and anti-fraud solutions to ensure secure onboarding and ongoing compliance to provide better service to customers. These solutions are designed to enhance the digital experience by speeding up onboarding, reducing the risk of fraud and building trust between users.

Delivering Enhanced Onboarding Solutions

Through the Engage program, partners such as Sumsub can develop, launch and scale payment solutions for MasterCard's global customer base. The partnership also helps accelerate product innovation and deliver a seamless payment experience for users.

Sumsub's Know Your Customer (KYC) products will be available to MasterCard customers who adopt digital-first solutions. These products enable a fast, secure and compliant onboarding process with features that track and monitor user activity to detect and prevent illegal behavior.

The Need for Reliable Monitoring Tools

According to Statista, the growing prevalence of payment fraud, which caused significant losses in the U.S. in 2022, underscores the urgency for reliable transaction monitoring and payment screening tools.Sumsub's platform integrates features such as chargeback prevention and fraud detection to help companies effectively mitigate the risks associated with fraudulent activity and unauthorized transactions.

“We are excited to join the MasterCard Engage Partner Program. It's critical for companies, especially those responsible for high volumes of transactions, to provide partners with the tools they need to protect themselves and their customers and enhance the user experience. They need ongoing fraud prevention measures, not just at the user onboarding stage,” said Martin ten Houten, VP Business Development, Europe, Sumsub.