COLOGNE, Germany – August 26, 2020 – (Newswire.com)
4Stop (“FourStop GmbH”) a leading global provider for KYB/KYC, compliance and fraud prevention technology, partners with global payment service provider emerchantpay to offer even more secure online payments for their merchants across the globe.
emerchantpay empowers businesses around the world to accept seamless payments with sophisticated payment technology, coupled with popular global payment methods and a wide range of acquiring services. Since 2002, emerchantpay connects businesses with their customers in more than 80 countries on a mission to make payments easy.
Leveraging the latest technology and providing secure payment experiences for their customers is at the heart of emerchantpay’s operations. As an early adopter of data orchestration hubs to manage risk mitigation requirements efficiently back in 2018, emerchantpay acknowledges the clear benefits towards optimised business performance. With a single API integration back in January 2019 to 4Stop’s KYB/KYC data and anti-fraud orchestration hub, emerchantpay further enhanced their robust infrastructure and offered even greater security to their merchants. During this strategic partnership, emerchantpay has successfully verified thousands of customers, achieving more than a 67% authorisation approval rate. On top of that, implementing 4Stop’s solution enabled emerchantpay to minimise their development hours, manual resources and strenuous costs.
These advantages became more relevant during the pandemic and surge in e-commerce as people shift their spending habits online. According to an Adobe report, online spending hit $82.5 billion in May, up 77% year-over-year. (1) In parallel, cybercrime is rapidly rising as sophisticated fraudsters capitalise on the vulnerability of online users and businesses that haven’t leveraged enhanced risk mitigation protocols to manage KYC and anti-fraud for the increased registration and transaction volumes. Furthermore, many localised regions have expanded regulation mandates in conjunction with the continuous updates into AML and payment regulations – such as the PSD2 regulation in effect as of Dec 31, 2020, which will require Strong Customer Authentication.
4Stop’s powerful orchestration hub enables emerchantpay to easily manage their registration security measures, overall risk mitigation needs and worldwide regulatory requirements for their merchants. emerchantpay activated 4Stop’s KYC onboarding suite, enhanced with real-time document identity verifications and dynamic anti-fraud technology encompassing dynamic decision-making frameworks, customised workflows, cascading rules logic along with real-time analysis, and intelligent monitoring.
emerchantpay’s Head of Risk, Mr. George Ralchev, commented: “The powerful KYC compliance aggregator allows emerchantpay to maintain compliance in different aspects of the business.
The sanctions list screening part of the KYC compliance tool of 4Stop gives significant value not only to the core PSP and acquiring business of emerchantpay group but also to the recently launched e-wallet and pre-paid card operations,” he said.
4Stop’s data-driven business underwriting solution provides access to hundreds of global KYB data services and a paramount of anti-fraud. At any point, emerchantpay can easily activate additional data services or fraud prevention capabilities in real-time with a one-click activation process.
To learn more, visit emerchantpay or 4Stop’s website or contact sales@4stop.com.
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Original Source:
Global PSP emerchantpay Partners With 4Stop's KYC and Anti-Fraud to Maximise Fraud Defence Agility
