Our holistic approach to risk management results in an internationally approved underwriting protocol, designed by our key experts. Our best practices, solid and secure card payment processing platform and high-end reporting tool has brought global recognition to Payvision as a leader in the payment solutions industry.
Ecommerce transactions are more vulnerable to fraud and money laundering schemes. The anonymity of clientele and speed of payment processing are only a few of the risks to be managed in the global payments industry.
Acquiring banks, Payment Service Providers, ISO and MSPs have to identify and manage risk before accepting a business relationship with a merchant. The financial profile and true identity of the merchant has to be verified, such as the merchant’s financial history and track-record. The products and services sold on its website must be considered, as well as any terms and agreements. The delivery method a merchant uses and the expected transaction volume is also key data to analyzed. Collateral is determined based on a combination of such elements, when consolidated form the customer’s risk profile.
During and after the underwriting protocol, after boarding has been approved, the merchant has to be protected against fraud. This is done by following processes recommended by the Financial Task Force (FATF), collectively with PCI and cross-border legislation compliance.
The authorization flow is only one part of the payment acceptance process, protecting the merchant against fraud. After obtaining authorization, the legitimacy of the consumer has to be verified.
Mitigating risk by identifying our customers through cross-border KYC screening requires enhanced customer due diligence processes. These consist of approved validation services, analysis of the consumer’s history and purchase device tracing.
Payments are then monitored by pattern recognition software and a rule engine, calculating risks based on complex algorithms. Through our internationally approved underwriting protocol, the latest trends in financial crime are monitored by our industry experts.