Risk Mitigation and Merchant Monitoring for Payments Companies

Managing merchant risk is an essential component in the operations of every payment service provider. The most effective approach includes both upfront underwriting to prevent violative merchants from entering your ecosystem combined with persistent monitoring to ensure ongoing compliance of applicable laws, card brand rules, and your own terms and conditions.

This risk and compliance resource hub offers valuable insight about the types of risk payment service providers face, as well as information on understanding the best tools and approaches for risk mitigation.

Types of Payments Risk

What Are High-Risk Verticals?

Understand what a high risk industry is, what is required to obtain a merchant account in a high risk industry, and how to keep your ecosystem safe.

What are BRAM and VIRP fines?

BRAM and VIRP (formerly GBPP) are card brand programs that impose fines on acquiring banks for detected processing of fraudulent and illegal activity. Learn about costs and how to avoid them.

What Is Transaction Laundering?

Transaction laundering is the processing of payments through a merchant account on behalf of an unknown merchant or hidden operation. Learn why this behavior is so dangerous.

Money Laundering vs. Transaction Laundering

Money laundering and transaction laundering are both fraudulent activities that put payments companies at risk. Learn the difference between the two and why it matters.

What is PCI compliance?

PCI DSS is an important card brand requirement for reducing fraud. Learn what PCI DSS compliance requirements are and how to adhere to them.

Why Is Reputational Protection Important in Payments?

Reputational risk management is the practice of safeguarding your brand against damaging attention. Read about reputational harm and how it can cause your company to lose value.

Monitoring and Risk Mitigation

Merchant Underwriting vs. Merchant Monitoring

Merchant underwriting and merchant monitoring are important solutions for addressing and mitigating risk throughout the lifecycle of a merchant account, but they are not the same.

Know Your Customer With These 3 Steps

KYC checks are a crucial part of the underwriting process to weed out problematic applicants and mitigate your risk. Learn about the three common elements involved in a KYC check.

How Merchant Monitoring Can Help You Grow Your Business

Many payments companies are looking at new markets to help build revenue in ways that are conscientious and compliant. Keep reading to learn about four rapidly growing industries to consider.

Is Merchant Monitoring Right for You?

Compare in-house merchant monitoring against the solutions offered by MMSPs, then explore the differences between various MMSPs to help you understand which would be the best fit for your needs.

Learn About LegitScript Merchant Monitoring

What makes LegitScript different from other merchant monitoring service providers? Register for our inside look webinar to understand if LegitScript's solution is right for you.