Vsafe is a payment solution that combines accuracy in fraud detection with a zero-fraud-liability guarantee. The solution enables ecommerce companies to boost their revenues through increased electronic transaction approvals while eliminating the risk of loss due to fraud.
The ecommerce industry in Colombia is growing steadily at a rate of about 25%, and experts anticipate the industry will maintain double-digit growth for the next two years. However, one of the biggest challenges for this sector, especially for merchants, is the potential for fraud. According to merchant data, the fraud rate is approximately 0.2%, which represents about USD 61 million in losses.