ONPEX, The Online Payment Exchange has today announced a strategic collaboration with online crime prevention specialist Web Shield.
The deal provides ONPEX’s acquirer, PSP, ISO and merchant client base with Web Shield’s sophisticated risk management tools.
A mass of fraudulent transactions are attempted every day worldwide, with the burden placed on bank acquirers and PSPs, who bear the ever-increasing costs due to card scheme fines or the loss of merchant accounts. Monitoring merchants’ web content effectively has become a difficult and time-consuming task. Web Shield’s services return full control to PSPs, ISOs and acquirers and provide them with efficient management.
Web Shield increases and improves protection against online crime and enables payment providers to attain control over the required risk assessment while reducing the associated merchant screening and monitoring workload by around 90%.
During the on-boarding process for a merchant Web Shield provides a pre-scanning of websites to simplify the process. Web Shield also provides an early warning system for clients against merchant account aggregation and offers a persistent monitoring of boarded merchants to track any alterations on their websites.
Speaking of the partnership, Christoph Tutsch, Founder and CEO of ONPEX commented: “Adding value to our payment platform users is a principle focus at ONPEX and security is top of the list. Online crime costs merchants and payments providers billions per year globally so must be taken seriously. For us, it is imperative that we make sure that our platform and all those utilizing it are doing so safely. Web Shield is a big part of our safety efforts and we are delighted to be able to offer its services to our clients.”
Christian Chmiel, CEO of Web Shield, commented: “We are very glad to have a partner of ONPEX’s caliber and vision. Protecting acquirers, PSPs, ISOs and merchants from online crime is key, and this partnership will enhance our possibilities to support ONPEX‘s clients in this area.”
