PAY.ON adds Web Shield to its risk management services

As part of the deal, Web Shield’s merchant due diligence and risk management monitoring software is now available in PAY.ON’s services. The Web Shield risk management modules IPSPShield and IPSPMonitor will allow PAY.ON to extend the portfolio for its payment service providers, independent service operators and financial institutes, such as acquirers. Web Shield is further an addition to PAY.ON’s Merchant Onboarding Tool.

Web Shield enables payment providers to gain and maintain control over the required risk assessment while reducing the associated merchant screening and monitoring workload by around 90 percent. A mass of fraudulent transactions are attempted every day worldwide. The burden is placed on bank acquirers and PSPs, 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 software provides simultaneous website checks and detection of illegal aggregation, ensuring that the conducted due diligence process complies with security levels.

Founded in 2004, PAY.ON offers global outsourcing services and routing for monetary transactions, wallet solutions, risk management and monitoring services, as well as various technical solutions.

For more information about PAY.ON, please check out the latest interview with the companys Head of Product Management, Falk Brügmann.