According to LegitScript’s latest Benchmarking Report, 81% of survey participants use a merchant monitoring service provider (MMSP) to mitigate risk. And that number is growing year over year.
Third-party merchant risk monitoring solutions vary but LegitScript Merchant Risk Solutions leverage regulatory and policy experts, 15+ years of proprietary data, and advanced technology to address challenges in risk mitigation.
Let’s explore how LegitScript’s merchant risk monitoring solutions can extend your internal teams' bandwidth by flagging merchants in your downstream and/or within your merchant portfolio — helping avoid hefty card network fees.
Third-Party Merchant Risk Monitoring Solutions Extend Internal Teams’ Bandwidth
Banks, PSPs, payfacs, and ISOs have internal risk, compliance, underwriting, and trust and safety teams that are often small but mighty. In-house or internal teams frequently lack the bandwidth to effectively and continuously monitor merchants.
Card network fines can stress your relationships with acquirers and snowball into even greater challenges.
LegitScript Helps Acquiring and Sponsor Banks See Through the Layers of the Organization to Identify and Mitigate Risk
Acquiring and sponsor banks must abide by an overwhelming number of rules and regulations. With so many layers to your organization, it’s no surprise identifying and mitigating merchant risk within your downstream can be challenging, especially when internal teams lack the capacity to do more than constantly sift through giant spreadsheets filled with false positives to identify high-risk activity.
The risk of reputational damage and the cost of the resulting fines and scrutiny can stress relationships with major card networks and/or payment service providers you partner with. Ensuring violative merchants are filtered out during the onboarding process minimizes friction for the good merchants.
Grow your business while managing your risk tolerance. Save time and money and minimize the chances of reputational damage or worse — regulatory scrutiny — with persistent merchant monitoring.
- LegitScript works directly with your downstream payment facilitators and ISOs to provide monitoring and assurance.
- Our solutions give you visibility into risk and the violations in your downstream merchant portfolios — enhancing your risk control environment.
- Expert analysts and policy experts reduce false positives and negatives — minimizing the risk of card network violations and making it easier to maintain good relationships with your upstream.
- LegitScript Merchant Risk Solutions extend your in-house team with industry-leading expertise about emerging trends, rules, and regulations to provide your team with cutting-edge thought leadership and insights.
LegitScript Helps Payfacs and ISOs Flag Merchants to Better Prevent Card Network Fees
Payfacs and ISOs know — unexpected card network fines for violative merchants within your portfolio, and stressed relationships with acquirers or sponsor banks due to gaps in your risk control environment, can be highly damaging to your bottom line.
We can help. A third-party merchant risk monitoring solution gives you the intel you need to quickly and efficiently action violative merchants by delivering real-time reports vetted by expert analysts.
- LegitScript provides accurate intel regarding risk and violations in your merchant portfolio.
- Our solution delivers real-time reports that are easy to understand and can incorporate automated actioning.
- Expert analysts reduce false positives and negatives — minimizing the risk of card network violations and running afoul of your upstream acquirers.
- LegitScript Merchant Risk Solutions provides our expertise on global regulations across high-risk verticals to help you avoid regulatory penalties and explore new markets.
Learn About Different Merchant Monitoring Solutions and Whether Ours Is Right for Your Company
Ditch large data dumps that necessitate hours of manual labor. LegitScript Merchant Onboarding provides banks, payfacs, and ISOs with unique merchant risk insights and key KYB data to help make faster, more informed onboarding decisions and prevent damaging activity.
LegitScript Merchant Monitoring enables companies to confidently assess merchant risk of every type, including transaction laundering, to better prevent fines and expand growth opportunities.
Our Merchant Risk Solutions cut through the noise of false positives to accurately identify risks like transaction laundering networks while saving you time and money. Identify and remove violative merchants – before the card networks do.
What Makes LegitScript Risk Solutions Different from Other Solutions?
Our People
We have the industry's largest team of investigative analysts and regulatory experts to provide the most accurate analysis and reporting, ensuring your teams can expand into new markets with confidence.
Our Data
We have spent more than 15 years classifying problematic products, e-commerce listings, and online merchant content to develop the world's most robust data sets of problematic products and merchant activity online.
Our Technology
LegitScript's AI-powered merchant and marketplace intelligence platform ingests millions of data points daily, which are analyzed through our proprietary machine learning to yield relevant and targeted insights.
Our Expertise is in Transaction Laundering Detection
LegitScript uses nearly two decades of historical merchant data combined with transaction laundering detection experts to research suspicious activity and confirm fraud so that you don’t have to. You save hours of investigative work and can action flagged merchants quickly and confidently.
Our Knowledge
LegitScript analysts and policy experts come from more than 20 different countries and collectively speak more than 18 languages. We track over 175 regulatory bodies in more than 100 countries, giving our customers the global insight and regulatory expertise to confidently grow their businesses.
Download Our Merchant Monitoring Buyers Guide
Are you interested in comparing solutions? Learn the distinct differences between in-house teams and third-party providers while comparing different service providers when you download our Merchant Monitoring Buyer’s Guide.
Get Your Copy of LegitScript’s Merchant Monitoring Buyer’s Guide
Download the Buyers Guide for a comparison between in-house monitoring vs a third-party solution like LegitScript.
