Senior Risk Analyst Mykal Thompson monitors and reviews merchant processing activity daily to identify abnormalities and to protect both consumers and Electronic Commerce from potential losses. His knowledge and experience in the payments industry includes deployment, underwriting, and risk.
Electronic Commerce is paving the way in the payments sector with a passion for what they do. Each merchant is treated with high importance, from the initial setup of a merchant account to daily maintenance, technical support, and education.
In the following Q&A, Senior Risk Analyst Mykal Thompson talks about his experience of partnering with LegitScript Merchant Monitoring to help Electronic Commerce better mitigate its risk and protect consumers.
What prompted Electronic Commerce to switch to LegitScript from your previous vendor?
Before partnering with LegitScript we were using a different risk monitoring vendor. We decided to move on from them because we needed a more in-depth monitoring vendor. We chose LegitScript over other solutions because their services fit best what we were looking for, and they are the only monitoring solution with a certification program that meets both major card brands’ requirements.
How does LegitScript improve on your previous process?
LegitScript is very good at expressing their concerns that the analysts find when reviewing our merchant portfolio. They are also good at monitoring the merchant’s website as well as finding BRAM/GBPP violations or inactive URLs.
Has LegitScript met your expectations?
Absolutely! LegitScript functions are easy to use and understand. The analysis notes are always thorough and well written. They even go above and beyond to provide the URL link to lead you to their findings. LegitScript saves our risk team a lot of time, the reason being is that LegitScript stays on top of monitoring each merchant’s website and notifies us right away of any BRAM/ GBPP violation, inactive URLs or even potential transaction laundering.
How would you judge LegitScript as far as the accuracy and detail of the results?
LegitScript doesn’t just rely on automated processes, they have payment experts reviewing our accounts to give us in-depth merchant analysis with an explanation and proof of their findings. This sets them apart from other competitors.
“I would describe LegitScript as a partner rather than a vendor. ... The additional support and trust built within the partnership gives us the confidence to scale our business.“
What if you have a question about a merchant LegitScript has flagged? Is the team helpful and knowledgeable?
Yes, the team provides further details in the research applied to the merchant in question. Further details in risk management are imperative as we ensure to make educated decisions when applying risk mitigation strategy to our portfolio.
How would you describe LegitScript to another payments company exploring merchant monitoring solutions?
I would describe LegitScript as a partner rather than a vendor. They truly take on the partner role in working with both our risk and underwriting teams during all stages of the merchant account. The additional support and trust built within the partnership gives us the confidence to scale our business.