Fast changing risk challenges in the online payment market met historical resistance at the EMS Risk Event 2012 at the Beurs van Berlage building in Amsterdam, Netherlands. On this first risk event of European Merchant Services around 150 guests discussed, how merchants could protect themselves more successfully against the heavy increase of organized financial fraud.
The reality shows that merchants are not seeking sufficient protection, which often leads to massive damages. Additionally and permanently, hackers search for leaks to steal data of e.g. credit card holders. Thus, the framework for a stimulating and very interesting discussion was put for the audience as well as for the panel speaker.
Members of the panel were Robert from Adyen (left), Sébastien from Ogone (right) and me from PAY.ON. As a provider of a turnkey cloud-based payment service provider solution, our PaySourcing platform contains more than 120 fully integrated risk checks, including highly specialised external risk management providers. So our service is therefore well fitted and gives our clients every opportunity for their merchants. So our service is therefore well fitted and gives our clients and their merchants an abundance of tools and ways to combat fraud.
It is also important to keep in mind that the settings of risk and fraud protection need a steady monitoring and optimisation. The responsibility for this lies with both sides – the merchants and their payment service providers. And for any prevention issue, our clients can rely on our knowledgeable Account Management. But maybe we should think about a special service to support our clients and so indirectly their merchants to counter these ongoing challenges predictively.