PayWatch is integrated across all areas of the Payveris digital payments platform and is designed to further protect consumers from fraud by monitoring consumer bill pay and business bill pay transactions, P2P transfers and account-to-account transfers.
The warning fraud prevention tool is accessed through Payveris’ integrated payment administration tool, PASS, which enables FIs to support system users, research transactions and take immediate actions on suspected fraudulent transactions.
PayWatch alerts financial institutions using the Payveris digital payments platform when potential fraudulent behaviours occur. If any irregular transaction occurs outside of normal patterns, an actionable alert is sent to the financial institution for decisioning. Each alert includes a detailed description of the transaction and why the alert was triggered to help the FI solve the potential issue.
Payveris’ unified digital payments and money movement platform enables banks and credit unions to offer their customers and members a multi-channel user experience for electronic bill payment and management, person to person transfers (P2P), external account transfers and business payments.
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