By: Dan Frechtling, SVP of Marketing and Chief Product Officer
A new Aite Group report surveys global acquirers and payment service providers (PSPs) merchant onboarding and monitoring practices. G2 Web Services is cited as a “comprehensive solution.”
Aite writes that G2 leverages, “a combination of historical databases on merchant activity, third-party database calls, and robust web-crawling and monitoring analytics to help acquirers automate the onboarding process, improve due diligence effectiveness and efficiency, and improve risk scoring. Solutions like this tick most of the boxes in the process.”
The 24-page Impact Report breaks down onboarding and monitoring processes. It also provides a forecast of the total addressable market for merchant acquiring risk solutions through 2020. The report also mentions Accuity, Bureau van Dijk, Dun & Bradstreet, LexisNexis Risk Solutions, Trulioo and Visa.
Payment facilitators, marketplaces and other agents acting as merchants of record make it difficult for acquirers to assess the risk in their portfolios. And while heavy competition calls for a move into higher-risk segments to sustain profitability, fraud migrates from the physical world to the fast-growing online environment.
The industry report called “Balancing Risk and Return: Best Practices in Merchant Onboarding and Monitoring” is featured on the Aite Group site. Clients of Aite Group’s Retail Banking & Payments service can download the report, corresponding charts, and the Executive Impact Deck. Non-clients may purchase the report by calling +1 617-338-6050 or emailing firstname.lastname@example.org.