New merchants expect underwriting decisions in minutes—not hours or days. Yet, traditional merchant acquisition and management is notoriously complex and time consuming. To successfully compete, payment providers need to streamline their end-to-end merchant risk operations. Data science and machine learning underpin automation solutions that can shorten merchant application times and make faster boarding decisions while avoiding granting accounts to bad actors. Implementing automation tools and services at each stage of the merchant lifecycle is no longer a nice-to-have, but rather necessary to survive as efficient operations will define who wins and who loses in the race to onboard profitable, legitimate merchants.
This document covers:
- Automating risk operations
- Signing new merchant accounts
- Maximizing inefficiency and risk