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Blog Category: Merchant Boarding

KYC Automation: You’re sold…but now how to implement?

You are convinced—automating your merchant Know Your Customer (KYC) due diligence process will greatly benefit your business. What now? How do you go from your current, manual processes to automation? The first step is picking a vendor, and to do that, you need to clearly understand your requirements. Are you trying to improve compliance, or… read more

Post Date: September 30, 2021September 30, 2021 Post Categories: Merchant Boarding, Merchant Underwriting

Merchant Boarding: The Secret to Automated KYC

From gaps in healthcare delivery to supply-chain bottlenecks, the pandemic has illuminated shortfalls in many established in-house systems. For payment providers, pivoting to a remote workforce introduces additional risk into the critical Know Your Customer (KYC) component of the merchant boarding and underwriting process. Automated KYC Risk professionals know that manual KYC due… read more

Post Date: April 15, 2020October 26, 2020 Post Categories: Know Your Customer, Merchant Boarding, Merchant Risk, Merchant Underwriting

Why Frictionless Merchant Onboarding is Irresistible

By: Dan Frechtling, President, Verisk Financial | G2 Last week I was in Dubrovnik, Croatia, speaking on a panel at the Mastercard GRL Cybersecurity & Risk Summit. The topic was frictionless merchant onboarding, which employs digital information capture and automated tools in place of paper forms and manual review of traditional merchant applications. It is… read more

Post Date: October 9, 2019February 14, 2020 Post Categories: Merchant Boarding, Merchant Onboarding, Merchant Underwriting

CBD Laws: An International Update

The legal status of CBD changes almost weekly. At G2, we track it closely and keep our clients up to speed. Check out this sampling of CBD laws in G2-monitored countries. Don’t blink, though, because it just might change. For a more thorough assessment of CBD’s legal status, please download Chronic Uncertainty: The International Legal… read more

Post Date: August 14, 2019June 11, 2021 Post Categories: CBD International Laws, CBD Laws, CBD Merchant Risk, Merchant Boarding

Regulators Target Transaction Laundering Operations

With the continued growth of e-commerce, transaction laundering – a scheme in which an entity hides transactions for illicit goods and services through the use of a seemingly-unrelated merchant account – is on the rise. The payments industry has been aware of transaction laundering for years, and G2 (via our Transaction Laundering Detection Solution) has… read more

Post Date: June 27, 2019February 14, 2020 Post Categories: Fraudulent Credit Card Processing, Merchant Boarding, Transaction Laundering

Keep an Eye on Illegal Contact Lens Merchants… They Could Pose a Risk

Did you know that all contact lenses – even decorative non-corrective contact lenses – are considered prescription-only medical devices in the US? That’s right! If a merchant is shipping contact lenses (even crazy vampire-eye lenses!) to the United States without properly requiring a prescription, then that merchant is violating US law and at risk of breaking card… read more

Post Date: April 4, 2019April 22, 2021 Post Categories: Merchant Boarding, Merchant Fraud

A Powerful Alliance Against Transaction Laundering

G2 Web Services and Aperia announced a collaborative integration program to help detect transaction laundering quicker and more…

Post Date: April 17, 2018June 11, 2021 Post Categories: High-risk Merchants, Merchant Boarding, Transaction Laundering

Allied Wallet Reduces Merchant Risk with G2 Global Boarding Solution

– January 22, 2014 – Allied Wallet, a G2 Web Services client, uses Global Boarding to dig deep into its potential merchants’ histories to uncover hidden risks and make more informed boarding decisions. Due diligence during the boarding process is the first line of defense when it comes to protecting a company’s merchant portfolio from financial loss due to risky merchants. With the increasing demand for a quick turnaround time at boarding, the careful balancing act of thorough due diligence along with the need for speed at boarding is a rising challenge. G2 Web Services developed Global Boarding, a fast flexible due diligence solution precisely to solve this problem.

Post Date: January 22, 2014May 29, 2020 Post Categories: Blog, High-risk Merchants, Know Your Customer, Merchant Boarding, Merchant Risk

Predicting Merchant Risk With Data Mapping

Data mapping has increasingly become one of the most important tools to identify and manage merchant risk in the rapidly shifting payments landscape. When reviewing a merchant application and its basic business information, there is much more than meets the eye. Often, there lies an entire network of connections between the merchant and existing domains, directors, IP addresses, third party providers, and risk history. Why does this matter? Well, if it is possible to identify relationships or connections between a new merchant on the web to current or previous entities, it’s possible to gather enough data to predict what risk they present to an acquirer or payment provider. Prediction rather than reaction is essential in mitigating merchant risk and fraud, both at boarding and throughout a merchant relationship.

Post Date: November 20, 2013May 27, 2020 Post Categories: Blog, Merchant Boarding, Merchant Risk

Top 5 Areas to Focus on During Merchant Onboarding

As the payment industry continues to undergo significant changes spurred by strong innovation and new payment methods, online merchant risks are on the rise, making it challenging for payment providers to stay one step ahead. With an increase in data compromises and government regulations, as well as new compliance concerns, the importance of performing extensive due diligence before boarding a new merchant could not be greater.

Bringing on the wrong merchant can be detrimental to your portfolio, as you could potentially bear the burden of any fraud, card network compliance violations, chargebacks and data breaches, which can cost you extensive financial damage, not to mention legal and regulatory penalties. Unfortunately, many acquirers do not thoroughly investigate their merchants’ online presence and history of risk. The good news is that many of these potential threats can be avoided by ensuring you follow the right steps and knowing exactly what to look for during the merchant boarding process.

The following are five areas of a merchant’s history to pay extra attention to at boarding:

Post Date: August 16, 2013December 10, 2020 Post Categories: Know Your Customer, Merchant Boarding, Merchant Fraud, Merchant Risk, Merchant Underwriting

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