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G2 Launches FraudFile to Fight Bust-Out Merchants

G2 Web Services announces FraudFile, a new fraud reporting and prevention solution that enables payment providers to prevent fraud at boarding, receive fraud alerts on current merchants, and report global fraud loss data to a central, secure location.

ST. JULIANS, MALTA, October 15, 2013 – G2 Web Services, leading global provider of merchant risk management solutions, today announced the launch of G2 FraudFile. This fraud loss prevention solution for acquirers and payment providers identifies fraudulent and potentially fraudulent merchants at boarding and alerts participants of identified fraud on an ongoing basis. FraudFile provides a unique, global, and system-neutral location for acquirers to report fraud loss data and to protect against future fraud loss, particularly from bust-out merchants and rapidly growing fraud rings.

Post Date: October 15, 2013May 15, 2020 Post Categories: News, News & Events, Press

5 Products That Can Indicate Potential Violations

As an acquirer, knowing what your merchants are selling is key to minimizing your risk for potential violations, especially since merchants can add products to their websites at any given moment, without your knowledge. New products are constantly put on the market, and unfortunately, illegal and risky products are often hard to detect and monitor. Without being aware of these products, you run the risk of brand damage and potential violations, including regulatory fines and even legal penalties. While the list of goods and services that violate MasterCard’s BRAM program and Visa’s Global Brand Protection program (not to mention the law) is exhaustive, G2 Web Services has compiled a list of five lesser-known products that we have identified on merchant websites that you should be on the lookout for.

Post Date: October 4, 2013June 11, 2021 Post Categories: Blog, High-risk Merchants, Illegal Drugs, Illicit Goods, Know Your Customer, Prohibited Content

PSP Reduced Unauthorized Merchant Aggregation By 97%

The following case study demonstrates how G2 Web Services, a leading payment risk management company, helped a U.S. payment service provider to identify unauthorized aggregation within its merchant portfolio, ultimately reducing its risk and creating new merchant opportunities.

Merchant Aggregation: Understanding the Problem

This particular payment service providers’ portfolio had 2,168 known merchant websites that contained higher risk online adult merchandise. The payment service provider (PSP) was enrolled in G2 Persistent Merchant Monitoring to carefully monitor its merchants for website content compliance. However, the PSP was not monitoring for aggregation, which left it vulnerable to potential violations and financial loss.

Aggregation can easily go unnoticed, as it involves an unknown merchant using a legitimate merchant account to process transactions. Without being aware of these aggregating sites, the PSP was facilitating the transactions of potentially illegal and/or brand damaging goods and services, and opening it up to aggregation assessments from the card networks. Upon learning more about aggregation risk potential and its rise in the industry, they sought help from G2 Web Services to determine the full scope of their merchant aggregation risk.

Post Date: September 30, 2013May 15, 2020 Post Categories: Blog, Case Study, Merchant Risk

G2 Founding Partner Presents at the International Acquiring Forum

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.

Post Date: September 25, 2013May 15, 2020 Post Categories: Blog, Events, News, News & Events

G2 Appoints New Board Member

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 Date: September 25, 2013May 15, 2020 Post Categories: News, News & Events

Merchant Service Provider Risk 101

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.

Post Date: September 17, 2013May 15, 2020 Post Categories: Blog, High-risk Merchants, Merchant Risk

G2 Makes 2013 Inc. Magazine’s 5000 List

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.

Post Date: August 23, 2013May 15, 2020 Post Categories: Blog, News, News & Events, Press

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

Top 5 Merchant Monitoring Tips

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.

Post Date: August 6, 2013May 15, 2020 Post Categories: Blog, High-risk Merchants, Know Your Customer, Merchant Risk

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