PAY.ON and Web Shield Ltd.have entered into a service agreement to further enhance PSP’s, ISO’s and acquirers’ risk management environment. Thus, Web Shield’s merchant due diligence and risk management monitoring software is now available in PAY.ON’s value-added services. With this partnership, Web Shield is expanding its global distribution and further fostering its market presence. The Web Shield risk management modules IPSPShield and IPSPMonitor will allow PAY.ON once again to extend its value-added portfolio for its payment service providers, independent service operators and financial institutes, such as acquirers. Web Shield is further an ideal addition to PAY.ON’s Merchant Onboarding Tool.
Markus Rinderer, CEO of PAY.ON AG, commented: “At PAY.ON, we strive to constantly offer our clients value-added services – in addition to our own payment services – that will support their business success and growth. This also includes services that assist in working more efficiently with merchants. Web Shield’s products will provide our clients with advanced and direct merchant risk management and monitoring services. The services will help them in protecting their transactions effectively from merchants trading illegally.”
Christian Chmiel, COO of Web Shield, commented: “We are very glad to now have such a recognised and known partner in the payment industry at our side. Protecting merchant acquirers, payment service providers and independent sales organizations from brand damage and reputational issues is key, and this partnership will enhance our possibilities to support PAY.ON’s clients in this area.”
PAY.ON’s client base can now benefit from Web Shield’s sophisticated risk management tools. The advantages for payment service providers/independent sales organizations and acquirers at a glance: Web Shield enables payment providers to attain control over the required risk assessment while reducing the associated merchant screening and monitoring workload by around 90%. A mass of fraudulent transactions are attempted every day worldwide. The burden is placed on bank acquirers and payment service providers, who bear the ever-increasing costs due to card scheme fines or the loss of merchant accounts. Thus, monitoring merchants’ Web content effectively has become a difficult and time-consuming task. Web Shield’s services return full control to payment service providers, independent sales organizations and acquirers and provide them with efficient management.