Merchant risk intelligence solution provider, G2 Risk Solutions (G2RS) is partnering with Mastercard to provide merchant acquirers with a more streamlined experience to help them reduce transaction fraud.
Transaction laundering fraud occurs when a registered merchant account is used to process sales of illegal goods and services. These accounts are used fraudulently by bad actors whose activity puts legitimate payment providers at significant financial and reputational risk.
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The collaboration adds Mastercard’s Brighterion Artificial Intelligence technology to G2RS’ end-to-end transaction laundering detection solution. The combination of G2RS’ solution with Mastercard’s Brighterion AI models aims to offer transaction-level fraud screening and merchant risk scores.
According to G2RS, its Merchant Map solution includes 20 years of unique merchant data. This includes billions of data points validated by expert analysts. It provides a best-in-class known-launderer database, protecting clients throughout the entire merchant lifecycle.
In combination with Mastercard’s AI-driven fraud scores, the G2RS merchant risk solution suite introduces the marketplace’s first comprehensive view of merchant activity for enhanced transaction laundering detection. At the same time the solution will simplify payments providers’ workflows.
Rohit Chauhan, EVP, Mastercard Cyber and Intelligence, said: “At Mastercard we’re providing world-leading AI capabilities offering a streamlined experience that protects customers from fraud. Through this partnership with G2RS, acquirers will benefit from additional intelligence to help them reduce transaction fraud. It is yet another step in our journey to secure the payments ecosystem and instil trust in every interaction. ”
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By GlobalDataRochelle Blease, President, G2 Risk Solutions, added: “Payment risk evolves rapidly, and it demands bolder moves to counter bad actors. By aligning the industry’s data insights, we are equipping the payments industry with much stronger and more comprehensive defences to identify merchant health signals and protect the integrity of the payments ecosystem.”
