Mon, Dec 23 2024
In an effort to give merchant acquirers a more efficient experience and lower transaction fraud, G2 Risk Solutions (G2RS), the top supplier of merchant risk analytics for the international payments sector, is teaming up with Mastercard.
A type of fraud known as transaction laundering (TL) occurs when sales of illicit products and services are processed through a registered merchant account. Bad actors are using these accounts fraudulently, and as a result, genuine payment companies are seriously jeopardizing their financial stability and image.
Through this partnership, G2RS' end-to-end transaction laundering detection solution will benefit from the addition of Mastercard's potent Brighterion Artificial Intelligence (AI) technology, which addresses changing risk related to an increase in criminal activities.
G2RS will provide a cutting-edge merchant risk solution supported by: • The G2RS Merchant Map®; • Mastercard Brighterion AI models, which provide transaction-level fraud screening and merchant risk scores.
Twenty years of unique merchant data, including billions of data points verified by knowledgeable analysts, are included in the unmatched G2RS Merchant Map. Offering the best known-launderer database in the business, it safeguards customers at every stage of the merchant lifecycle.
The G2RS merchant risk solution suite offers the industry's first comprehensive view of merchant behavior for improved transaction laundering detection when combined with Mastercard's AI-driven fraud scores. The approach will also streamline the operations of payment providers.
"At Mastercard, we're providing world-leading AI capabilities offering a streamlined experience that protects customers from fraud," stated Rohit Chauhan, EVP, Mastercard Cyber and Intelligence. Acquirers will gain access to more information through this collaboration with G2RS, which will aid in the reduction of transaction fraud. This represents a further development in our effort to safeguard the payments ecosystem and foster confidence in all dealings.
G2 Risk Solutions President Rochelle Blease stated: "Payments risk is evolving quickly, necessitating more daring actions to combat unscrupulous actors. We are giving the payments sector far more powerful and all-encompassing defenses to recognize merchant health signals and safeguard the integrity of the payments ecosystem by harmonizing the industry's data insights.
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