G2 presented, sponsored and exhibited at last week’s Mastercard Global Risk Conference in Phuket, Thailand. The conference, which took place over three days, brought together industry experts to discuss and present on the latest tools and technology for fraud prevention, including key payment security issues, vulnerabilities and innovative techniques to mitigate fraud.
During the pre-conference Merchant Risk Summit on Tuesday, August 20th, Keith Groves, G2’s Regional Director – EMEA, presented to conference attendees on “Compliance Program Best Practices”, along with Paul Paolucci, VP of Customer Performance Integrity at Mastercard. The presentation highlighted 10 Compliance Program Best Practices, including:
- Sign card network program letters as applicable
- Conduct due diligence at boarding
- Identify new merchant websites regularly
- Monitor all merchants persistently
- Update monitored merchant portfolio monthly
- Action and publish reported violations
- Identify and register third parties
- Enhanced monitoring for high-risk merchants
- Detect and monitor aggregating merchants
- Investigate merchants as necessary
Robert Caldwell, founder of G2, also spoke on the panel “Understanding and Mitigating the Risks of the Payment Facilitator Model”. The focus of the panel was centered around trends in the industry and how to better understand and manage risks associated with payment facilitators. Bob presented on “Changing Payments Landscape: Understanding the New Risks”, which highlighted how the traditional 4-Party Value Chain of issuer-cardholder-acquirer-merchant has evolved to the N-Party Value Chain, which is made up of a myriad of third parties and intermediaries that introduce significant new risks to the payment system.