CloudWalk Wins the Mastercard Excellence Program 2023 Award
Recognition is given to companies that stood out the most in the financial sector, the Brazilian fintech won in the Approval Rate and Fraud category - CNP
São Paulo, December 2023 – CloudWalk, owner of the financial services platform InfinitePay, was one of the winners of the 2023 Mastercard Excellence Program Award. The company won first place in the "Approval Rate and Fraud - Card Not Present" category, recognizing its exceptional innovation in the payments sector.
The award, in its fifth edition, celebrates the most innovative brands in banking, payments, and financial services. CloudWalk stood out in the Card Not Present category, which evaluated fraud reduction effectiveness in remote operations and approval rates in digital transactions.
According to Alan Dias, Chief Risk and Compliance Officer at CloudWalk, the recognition reflects the tireless commitment of the risk, operations, and compliance teams to create a safe and reliable business environment for the more than 1 million InfinitePay clients in Brazil.
“We are immensely proud of the recognition we received from Mastercard. It proves that innovation and security can, and should, go hand-in-hand, benefiting both merchants and consumers,” says Dias. “With the advanced use of Artificial Intelligence, we were able to significantly improve our security systems, maximizing fraud prevention alongside high sales approval rates. These pillars are essential as they ensure that our business partners can operate knowing their transactions are safe and that their sales opportunities are maximized."
Convenience and Security
The term “Card Not Present” (CNP) refers to transactions conducted remotely, where the physical presence of the credit card is not required during purchase. Entrepreneurs can complete sales by sending a payment link through social networks, websites, or messaging apps, increasing their reach and business opportunities. For customers, these transactions represent convenience, as purchases can be made from anywhere and at any time, and security, as the process is based on AI-driven preventive measures.
To further support entrepreneurs, InfinitePay launched its automated debt management system, “Gestão de Cobrança,” in July of this year. It automates the communication process for collections virtually, reducing default rates and promoting the growth of small and medium-sized businesses.
