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Blog Category: Merchant Risk

API Merchant Compliance

API integration is a growing trend in nearly all industries—and the merchant acquiring/financial services space is no exception. From speeding up merchant underwriting to consolidating vendor insights into your internal platform, numerous processes can be improved with API integration.    So, what exactly is an API? Put simply, an Application Programming Interface (API) is a technical… read more

Post Categories: Merchant Monitoring, Merchant Risk
Drug Watch List Guide

We have added some trending pharmaceuticals and illegal drugs to this year’s list. Some examples: Semaglutide: Semaglutide is the active pharmaceutical ingredient in two FDA-approved injectable prescription-only drugs: Ozempic and Wegovy. Ozempic is approved to help people with Type 2 diabetes manage their blood sugar levels. Wegovy is approved for weight loss. Both drugs contain… read more

The U.S. Food and Drug Administration (FDA) hints that it may increase its nicotine regulations after electronic cigarette enterprise, Juul Labs, Inc. hooked a generation on vaping.  Last month, the FDA ordered all currently marketed Juul products to be removed from the U.S. market. The agency determined there is not enough evidence to “assess the… read more

Post Categories: FDA, Merchant Monitoring, Merchant Risk

Websites touting phony celebrity endorsements — usually accompanied by “free” trial offers and ongoing monthly subscription plans—are rampant. Fraudsters peddle “miracle” weight loss products, age-defying cosmetics, and get-rich-quick schemes using images of Dr. Oz, Oprah Winfrey, Paula Deen, and others. These deceptive sales tactics are often accompanied by negative option billing and (for the consumer)… read more

Magento 1 e-commerce websites are easy malware targets and among the biggest potential liabilities in any payment provider’s portfolio—and the threat is about to get worse. What is happening? Effective June 30, 2020, Adobe Magento will end support for the Magento Commerce 1 platform. Magento 1 websites will no longer receive vendor-supplied security patches. Visa… read more

Nutraceuticals Claims Guide

When onboarding a nutraceutical merchant, how do you know which claims are compliant versus which claims cross the line? Obviously, a dietary supplement cannot be marketed with claims to miraculously cure COVID-19, but can it be marketed to relieve joint pain? Or reduce inflammation? What if the merchant’s website is claim-free, but its social media includes claims to help treat hypertension? Can a merchant… read more

merchant onboarding

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

As COVID-19 engulfs the US, increasing numbers of unethical internet merchants are targeting consumers who are homebound, anxious—and online. According to DomainTools, over 100,000 high-risk coronavirus-related domain names have been created since January.   G2 analyzed these domain names and looked for trends. We found the following:   Exponential Growth In the months of January and… read more

While COVID-19 spreads worldwide and panicked consumers rush to acquire pandemic essentials, scammers are out in full force. In the past few weeks, G2 has seen a dramatic increase in healthcare-related scams, especially in the following categories:   Protective Face Masks Face mask fraud is rampant, as bad actors attempt to take advantage of vulnerable… read more

merchant risk

Weight loss scams come in all sorts of shapes and sizes – pun intended! In addition to causing consumer harm, these boondoggles lead to chargebacks, regulatory scrutiny, and brand-damaging publicity. Here at G2, we keep an eye out for all types of merchant risk, including the following: Misleading Claims The FTC warns third parties to… read more

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