Irish PSP Chooses IdentityMind Merchant Underwriting and Antifraud Services
April 8, 2013
Antifraud technology provider IdentityMind late last week said it has been chosen by CommerceGate as the Dublin, Ireland-based PSP’s risk management platform. IdentityMind said it will provide CommerceGate with merchant underwriting and risk monitoring services along with its e-commerce antifraud technology.
“Payment Service Providers face many challenges, especially those that provide services to high risk industries,” said Garrett Gafke, president and CEO of IdentityMind. “Increasingly, PSPs are having to expedite the underwriting process and accept merchants with different risk profiles almost in real-time. On the other hand, card brands and acquiring banks are requesting PSPs to be more vigilant and augment their reporting requirements. PSPs have to maintain a cohesive and innovative risk strategy. Our platform offers them the ability to cover all their operation bases: real-time fraud detection and merchant account risk mitigation in a single interface.”