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Finextra
14-05-2025
- Business
- Finextra
A Guide to Strategic High-Risk Merchant Management: By Jonathan Hancock
With a powerful growth engine, today's digital marketplace presents acquirers with the critical challenge of managing high-risk merchants. Success in this arena hinges on a dynamic and adaptable strategy, balancing opportunity with security. The definition of "high-risk" is fluid, constantly reshaped by technological advancements and shifting consumer behaviours. Therefore, acquirers must maintain a vigilant watch, identifying emerging high-risk segments such as cryptocurrency exchanges, online gambling platforms (where legal), telemedicine services, and businesses specialising in vaping or CBD products—these sectors each demand tailored risk mitigation strategies, reflecting their unique challenges and evolving regulatory landscapes. To effectively navigate this terrain, acquirers must leverage advanced data analytics. Implementing sophisticated tools enables deep insights into transaction patterns and the identification of anomalies. Employing behavioural neural network models facilitates the analysis of transaction data to detect potentially fraudulent activities. This data-driven approach, coupled with rigorous monitoring of chargeback rates and strict adherence to regulatory requirements, provides a robust foundation for informed decision-making. The support ecosystem surrounding high-risk merchants plays a crucial role in mitigating risk. Acquirers should actively foster collaboration with Independent Sales Organisations (ISOs), Independent Software Vendors (ISVs), and agents. These partnerships facilitate more substantial relationships with merchants, enabling assistance in refining refund and return policies, implementing robust fraud prevention measures, and ensuring compliance with industry standards. Payment facilitators (PayFacs) offer a strategic advantage in managing high-risk merchants. Utilising PayFacs to onboard these businesses as sub-merchants mitigates risk through tiered underwriting and automated processes. PayFacs' digital infrastructure streamlines operations, facilitating transparent pricing, accessible merchant services, and targeted value-added services. Their specialised expertise in specific high-risk verticals further enhances risk management capabilities. However, not all high-risk segments are created equal. Acquirers must exercise caution and, in some cases, outright avoidance. Illegal gambling operations, unauthorised prescription drug sales, and websites featuring prohibited adult content present significant legal and regulatory risks that far outweigh potential rewards. Prioritising legal and regulatory compliance is paramount when evaluating these segments. Rigorous due diligence is essential for mitigating risks associated with high-risk merchants. Acquirers must thoroughly evaluate business models, transaction histories, chargeback rates, regulatory compliance, and overall reputation. Implementing regular audits, even post-onboarding, ensures ongoing compliance and risk mitigation. Employing stricter financial safeguards, such as reserves or holdbacks, and potentially requiring personal guarantees from business owners provides an additional layer of security. Effective management extends beyond initial vetting. Implementing robust fraud prevention measures is crucial. Advanced fraud detection systems powered by machine learning and AI enable identifying and preventing fraudulent activities. Real-time transaction monitoring allows for prompt detection and response to suspicious activities. Maintaining clear communication with merchants and ensuring consistent adherence to industry and payment scheme standards are equally vital. Maximising transaction processing efficiency minimises downtime and ensures continuous operation. The regulatory landscape is constantly changing, requiring acquirers to remain vigilant. Staying informed of new rules and compliance requirements introduced by card networks and regulatory bodies is essential. Implementing additional authentication measures, such as those mandated by initiatives like VIRP and PSD2/PSD3, for high-value remote transactions is necessary. Compliance with card scheme monitoring programs and prompt address of excessive fraud and chargebacks is also critical. Acquirers must continuously evaluate risk management strategies and adapt to threats and regulatory changes. Fostering a culture of compliance within any organisation, emphasising ethical and responsible business practices, is essential. By adhering to these strategic principles, acquirers can effectively manage high-risk merchants, fostering growth while safeguarding their interests and maintaining the integrity of the payment ecosystem.
Yahoo
06-02-2025
- Business
- Yahoo
NWN Carousel Awarded U.S. Partner of the Year at Five9 Global Partner Awards for Second Consecutive Year
Award Celebrates Excellence in customer experience, digital transformation, and technological innovation BOSTON, February 06, 2025--(BUSINESS WIRE)--NWN Carousel today announced it has been awarded the U.S. Partner of the Year as part of the 2024 Five9 Global Partner Awards. Five9's annual Global Partner Awards recognize the achievements of its global ecosystem of channel partners, Systems Integrators (SIs), strategic alliance partners, and Independent Software Vendors (ISVs). The Five9 Partner Program continues to play a pivotal role in NWN Carousel's growth, with partner-influenced business now accounting for over 80% of total new bookings in the past year. The expansive partner ecosystem has grown to include more than 1,400 partners globally, featuring many of the most impactful advisors, managed service providers, CX-focused strategic consultants, systems integrators, and complementary technology leaders. By focusing on the industry's most effective routes to market and empowering partners to enhance their practices, Five9 and its partners are driving the CX industry to unprecedented levels of innovation and success. "Our partnership and integration with Five9 has powered innovative new ways for clients to leverage AI to further enhance contact center efficiency and provide unparalleled customer experience," said Jim Sullivan, NWN Carousel President and Chief Executive Officer. "Together, we created Five9 Genius AI, which optimizes CX with a tailored approach that includes data enrichment, gap analysis, and personalized design experience. In addition, the program offers a suite of powerful AI-enabled virtual agencies that provide a 24/7 conversational self-service experience." A number of NWN's large customers have adopted the company's differentiated CX offerings with Five9 including Covetrus, the first tech-enabled veterinary practice company. NWN Carousel was instrumental in helping Covetrus provide better outcomes to veterinarians and pet owners utilizing AI and automation through the contact center. "We believe customer experience is the driving force behind business success. Our partner ecosystem is central to this mission and inspires our team to deliver best-in-class solutions," said Jake Butterbaugh, SVP International Sales and Global Partners, Five9. "Together, we empower enterprises to deliver outstanding CX by embracing innovation and committing to a shared vision for success. Our collaborative approach accelerates cloud transformation, ensures seamless deployments, and provides deeper insights to our customers. It's an honor to celebrate our Global Partner Award winners, who exemplify the excellence and values that drive exceptional customer experiences." NWN Carousel received the U.S. Partner of the Year award because of its AI-powered CX and contact center innovation and proven market traction. This is the second consecutive year that NWN has won this prestigious award which honors the top revenue-generating partner in the U.S., setting the gold standard for excellence in partnership, innovation, and results. To learn more about the 2024 Five9 Partner Award winners, visit: About NWN NWN Carousel delivers AI-powered technology solutions for the modern workplace. Its expertise in cloud transformation, intelligent infrastructure, cybersecurity, managed devices, visual collaboration and cloud communications, leverages more than 30 years of engineering strategic outcomes for over 5,000 organizations. NWN Carousel's proprietary Experience Management Platform (EMP) ensures seamless service delivery, real-time observability and improved uptime, efficiency, and experiences for our clients. We're a customer-obsessed team earning a 70+ Customer Net Promoter Score (NPS), and committed to a culture of innovation, integrity, and operational excellence. Our company has been recognized with hundreds of industry awards and is proud to be a 'Best Place to Work' with an 80+ Employee Net Promoter Score (eNPS). For more information visit: View source version on Contacts PR Contacts:Gail ScibelliMarketbridge for NWN CarouselNWNCarousel@
