How a Third-party Merchant Risk Monitoring Solution Can Help

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 that 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 Merchant Onboarding and Merchant Monitoring Solutions and Whether Ours Is Right for Your Company

Onboard your merchants faster with better accuracy. LegitScript Merchant Onboarding provides banks, payfacs, and ISOs with unique merchant risk insights and key know your business (KYB)  data to help make faster, more informed onboarding decisions and prevent damaging activity.

Ditch the data dumps and false positives that drain your team’s time. 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 solution provides detailed, defensible evidence to help your teams action merchants faster and more confidently.

Our Merchant Risk Solutions help payments companies maintain a comprehensive view of risk throughout a merchant's life cycle so they can stay compliant in high-risk environments and grow their business. Identify and remove violative merchants – before the card networks do.