Giftango and Vesta Eliminate Payment Fraud for Merchants of eGift Cards

Wed May 4, 2011 8:31am EDT

* Reuters is not responsible for the content in this press release.

  PORTLAND, OR, May 04 (MARKET WIRE) -- 
Giftango Corporation, the leader in virtual eGift cards, today announced
the addition of new indemnified payment services to their Premium Turnkey
ecommerce offering through a partnership with Vesta Corporation.

    How Giftango Fraud Management Works for Merchants 

    When a consumer purchases a virtual eGift card powered by Giftango, it is
delivered instantly to the recipient's email and/or smartphone. Instant
delivery conveniently allows the consumer to interact with the brand in
new ways. However if a purchase is made using a stolen credit card, the
speed at which the gift card is delivered opens the door to fraudulent
credit card transactions. Thanks to Giftango's partnership with the
best-in-class indemnified payments provider, Vesta Corporation, the risk
of consumer payment fraud no longer resides with the merchant.

    "We are absolutely committed to making a merchant's experience using
virtual eGift cards as easy and safe as possible," said Giftango CEO
David Nelsen. "Giftango's partnership with Vesta ensures our customers
receive the highest level of indemnified payments in the market,
significantly higher than the market has previously seen. The importance
of this step for our industry cannot be overstated." 

    The Giftango and Vesta partnership will maximize revenue for the merchant
and guarantee all accepted transactions. By leveraging systems that
process hundreds of millions of electronic transactions, Giftango can now
support all the aspects of payment indemnification and remain on the
cutting edge of technology in the stored value space.

    "Giftango came to us with an impressive platform and an even more
impressive list of customers in the virtual eGift card marketplace," said
Vesta Corporation CEO Doug Fieldhouse. "Both Vesta and Giftango
understand that fraudulent transactions pose a serious risk to merchants,
often causing them to lose money and time, which can often limit the
products they sell. The combination of Vesta's fraud management expertise
and Giftango's electronic gifting technology will deliver risk-free
transaction acceptance for eGift merchants -- further enhancing
Giftango's offering with clients." 

    Through the partnership, the Giftango Premium Turnkey solution offers
24/7 call support in multiple languages. When questionable transactions
are identified, the user interface provides prompts to assist with the
transaction. The merchant pays one flat fee for all services rendered,
including: fulfillment of virtual cards, customer service, processor
connectivity, payment processing and indemnification from fraudulent
transactions.

    How Has a New Standard Been Set?

    Brand Protection: Providing indemnification from transaction fraud is not
something an inexperienced company should take on for its merchants. The
liability profile is high and losses -- in dollars or reputation -- can
significantly damage a brand. Selecting Vesta to manage this
responsibility fully protects Giftango and its customers.

    Higher Sales Throughput: Brands can experience additional sales volume by
not turning away good transactions. The Giftango/Vesta partnership will
lead to the highest sales throughput for branded eGift products, while
not upsetting customers by turning away their transactions. Vesta's
expertise in this space has been earned and refined by processing
hundreds of millions of transactions over the past 15 years.

    24x7, Multi-lingual Support for Electronic Transactions Made Around the
World: Vesta provides 24x7 customer care in support of international
transactions so consumers are ensured the best possible branded
experience for eGift purchases. 

    About Vesta Corporation
 Headquartered in Portland, Oregon, with
operations in Europe and China, Vesta has been a pioneer and worldwide
leader in electronic payment solutions since 1995. Vesta has established
long-term, successful relationships with leading telecommunications and
financial companies including AT&T, Boost Mobile, Bank of China, Bank of
Ireland, Chase Paymentech, China Mobile, China Telecom, Cricket
Communications, Green Dot, Metavante, NetSpend, O2, Sprint, T-Mobile,
Verizon, and Vodafone. For more information on Vesta, visit
http://www.trustvesta.com.

    About Giftango
 Giftango Corporation, founded in 2005, has redefined
gifting with their innovative delivery of virtual eGift cards to email
and mobile phones. Merchants utilize the Giftango platform to power
ecommerce sales, a wide variety of promotions as well as distribution
through 3rd parties. 

    Hundreds of merchants rely on Giftango for the delivery of virtual eGift
products. Giftango's customer base spans across more gift card processing
platforms than any competitor in the market. For more information on
Giftango, visit http://www.giftango.com. 

    

Giftango Corporation Media Contact: 
Mike Fletcher
Chief Marketing Officer
Email: mike.fletcher@giftango.com
Phone: 1.877.443.8264

Media Inquiries, Vesta Corporation
Scott Boucher
Manager, Corporate Communications
scott.boucher@trustvesta.com
+1.503.790.2500 

Copyright 2011, Market Wire, All rights reserved.

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