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G2 Web Services founding partner, Robert Caldwell, spoke last week at the first annual International Acquiring Forum in London. As a speaker on the panel “The Dark Side of Acquiring: The Temptations of Volume from Non-Traditional Merchants”, Bob was joined by other industry experts, including: Alan Goslar, Chairman of PAY.ON; Stanley Skoglund, Chief Risk and Compliance Officer for Credorax Group; and Catherine Cummings, Senior Director of the International Centre for Missing and Exploiting Children who each presented on different topics pertaining to the overall panel theme.

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Roy Banks, former CEO of Accelerated Payment Technologies, Inc. and President of Authorize.Net, has been appointed to the G2 Web Services Board of Directors to help guide the strategic growth of the company.

BELLEVUE, WA, September 25, 2013 – G2 Web Services, a leading global provider of payment risk management services, today announced that Roy Banks has been appointed as the newest member of the G2 Board of Directors. As an experienced payments industry executive with a history of successful executive leadership and management, Banks will be a key advisor for G2 Web Services.

Post Categories: News

Despite new card network regulations that require acquiring banks to register all their merchants’ service providers, much confusion remains about these requirements and service provider risk in general. G2 Web Services has identified thousands of service providers on behalf of acquirers worldwide, as well as helped facilitate their registration with the card networks. We’ve developed industry knowledge, best practices and tools that can help bring you up to speed.

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G2 Web Services 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.

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G2 Listed on Annual Exclusive List of America’s Fastest Growing Private Companies, With Three-Year Revenue Growth of 115%

BELLEVUE, WA, August 23, 2013 – Today, G2 Web Services, a leading global provider of payment risk management solutions, announced that they were ranked number 2,954 on Inc. Magazine’s seventh annual Inc. 500|5000 list, an exclusive ranking of the nation’s fastest-growing private companies. G2 also ranked 82nd among the fastest growing companies in Washington State. G2 Web Services joins GoDaddy and LivingSocial, among other prominent brands featured on this year’s list.

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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:

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We all know how difficult it can be as an acquirer to monitor all of your merchants’ websites effectively. It is a costly and time-consuming process to do in-house, and regulations are constantly changing. However, choosing to not monitor your merchants can open you up to brand damage, legal liability, and card network assessments.

Here are the “Top 5 Tips to Monitor Your Merchants” from G2 Web Services, a leading provider of payment risk management solutions and expert at merchant compliance monitoring, to help you stay better protected.

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Recently, the G2 Web Services team was involved in Operation Pangea VI, the annual international internet effort targeting the illegal online sale of counterfeit and unlicensed medicines and the criminal organizations behind them.

Operation Pangea is coordinated by INTERPOL, the World Customs Organization (WCO), and other international government and law enforcement agencies, and is the largest internet-based action of its kind. G2 Web Services worked behind the scenes to identify websites, map merchant relationships, and confirm merchant accounts transacting on sites selling illegal pharmaceuticals.

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Cyberlockers are third party file-sharing – also known as “file hosting” – services. Examples of popular cyberlockers are DropBox, Hotfile, MegaVideo, and RapidShare. While there are practical applications for this type of service – such as transferring documents and photos between friends, or collaborating with remote colleagues – these file sharing merchants can also pose immense risk to acquirers. Cyberlockers have been repeatedly found to be associated with brand damaging, risky, or even illegal content, including violent video and intellectual property rights infringement. This business model is currently largely unregulated and very difficult to monitor, so acquirers should proceed with caution.

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Millions of pieces of “Personally Identifiable Information” (PII) are compromised each year due to data breaches, theft by an employee or loss of the data by the company. Yet surprisingly, 69% of small business do not believe that there would be a significant financial impact or harm to their business reputation if they experienced a data breach, according to a recent study conducted by Ipsos Reid. This study also found that:

  • 40% of small business owners have no protocols in place for securing data, a five percent increase from last year.
  • More than 1/3 of the small businesses report that they never train staff on information security procedures.
  • 48% of small businesses don’t have anyone directly responsible for management of data security.
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