By: Austin Denson, Marketing Specialist
Recently, G2 Web Services had the opportunity to attend one of the most well-established payment conferences in the United States. ETA TRANSACT, held each spring in Las Vegas, brings together the payments community for an annual revealing of payment innovations, technological advancements and regulatory updates. Event themes and hot topics this year centered around digital identity, the growth of AI and how to leverage it in regards to risk management and fraud profiling.
Figure 1: The Grand Opening of ETA TRANSACT 2018 at the Mandalay Bay Convention Center
Strength Lies in Differences
ETA TRANSACT held at the Mandalay Bay Convention Center was home to over 4000 attendees, whom represented over 25+ countries across the globe. The conference included large financial institutions (FIs), acquiring banks, independent sales organizations (ISOs), entrepreneurs, tech startups and a variety of other diverse payment associations. All of which were looking to buy and sell solutions in hope of gaining profit, creating viable partnerships and enhancing their brand presence.
Higher the Risk, Higher the Reward
Attendees were eager to embrace the new products, solutions and opportunities made available to them. The race to onboard high-risk merchants quickly, process payments immediately and generate revenue promptly is a challenge among competing PSPs. To seize the future of payments, FIs must evolve quickly, yet cautiously. Those who are looking to adopt the use of premature payment gateways and alternative payment methods must exercise their due diligence. Conducting business with high-risk or unknown merchants requires more than a slick portal design and classic web crawling solution. The most profitable acquiring banks are confidently boarding high-risk merchants, while persistently monitoring their entire portfolio.
At ETA, G2 and Aperia formally announced Datafusion™, a collaborative integration program to detect violating merchants across the globe. Datafusion™ is a combination of acquirer, issuer and gateway data. By carefully aggregating this information G2 can detect illegal test transactions more rapidly, uncover laundering networks more extensively and disrupt advanced crime networks more efficiently.
Decades of merchant and transactional data has solidified G2’s Transaction Laundering Detection and Persistent Merchant Monitoring as two of the payment industry’s leading risk monitoring solutions out today. Our “defense in-depth” approach uncovers bad actors at any level of the payment cycle allowing our customers to quickly gain profit while remaining compliant with the changing payment regulations.
If you want to learn more about how to combat online crime, please consider joining us at the 2019 G2 Risk Summit Series! Our team is excited to have officially announced the dates and locations for our 10th annual event.