Even the best risk management controls won’t prevent every fraud loss. Which got us thinking: how does insurance coverage fit in to the picture for payment facilitators? Are there unique pitfalls that PFs face when obtaining liability insurance for their businesses? And are there considerations they need to understand to help make sure that –…Read More
By Dan Spalinger, Head of Global Advisory Services, Infinicept Some people say that a payment facilitator often functions like a traditional bank. This comparison might strike fear in the hearts of PF founders and leaders. After all, PFs pride themselves on their differences from the “way things used to be done.” But this shouldn’t necessarily…Read More
For years, small merchants were underserved by the payments system. In recent years, more and more types of providers have arisen to bridge this gap.
But not all options are created equal when it comes to protecting merchants and the payments system overall. And this can have important implications for the businesses served.
The outbreak of a global pandemic is unlike anything the payments industry has previously encountered. But that doesn’t mean the resulting threats themselves are new – simply that the risk of encountering them is dramatically heightened.Read More
This week, we complete our series on high-risk trends with a look at types of merchants that could carry reputational risk for payment facilitators. David Khalaf, LegitScript In an era where corporate missteps are amplified by social media and a nonstop news cycle, payment facilitators can easily find themselves under attack for processing payments for…Read More
By lowering the barriers to entry into the payments system for many legitimate merchants, the payment facilitator model potentially becomes attractive to bad actors as well. This means that payment facilitators have to stay well-informed about the biggest risks to their own portfolios, so they can remain vigilant in protecting them.
This week, we continue an occasional series on the high-risk trends that are facing payment facilitators with a look at recent frauds and scams.Read More
Dealing with high-risk portfolios adds complexity to a PF’s compliance efforts. This week, we begin an occasional series on the trends that are facing payment facilitators operating in the high-risk space.Read More
For software vendors and others considering becoming payment facilitators, risk is understandably a top concern. So, for our ongoing series about the factors that go into deciding whether to become a PF, we ask experts a fundamental pair of questions: where does the risk come from, and how bad is it?Read More
While controlling access to the payments system is critical, the legacy system in place to do so was overkill for many players. To accept electronic payments, even the smallest merchant had to complete the same applications and undergo the same scrutiny as the big guys. Enter frictionless underwriting.Read More
Merchants want ease of use. Customers want mobile. Everyone wants security.Read More