As a payment facilitator, you have to keep an eye out for transaction launderers – merchants that traffic prohibited products through seemingly legitimate sites. While the bad guys are good at keeping their illicit activity under wraps, there are ways to combat these sneaky web sites.
DoubleRich Senior Consultant Dan Spalinger will tackle how to uncover these and other high-risk activities – as well as more day-to-day activities such as chargebacks and refunds – during his How Bad is “Bad”? session at the PF WORLD 2019.
In his role as a consultant, Spalinger helps his clients better understand their own clients as well as people “who might seek to use the payments system for their own gain,” he said.
“I’ve been on both sides. I’ve worked for the largest acquirers in the PF space as the individual on the other end of the phone saying ‘no, no, no’ and taking a very conservative viewpoint of what a PF needs to do in order to be accepted. And now I’m on the other side, trying to help PFs work with individuals who are in my former role and obtain acceptance,” he said.
Spalinger called the session a “post-boarding look at how a PF can manage risk of all kinds after the initial underwriting and boarding.”
“When chargebacks rise or a negative news article is found, how does a PF and/or the acquirer determine the proper remedy?“ Spalinger asked. “When is it time to cut ties? Drawing a defined line in these instances is difficult, but we’ll try and add clarity.”
The session will talk about supporting legitimate clients while staying on the good side of sponsors and the card networks when dealing with chargebacks, refunds and fraud.
But before you get to the point where you’re dealing with transactions, you’re onboarding the client. How do you get to know what you really need to know about them?
Spalinger will also cover the processes PFs need to have in place for understanding who their clients are and what they’re doing, as well as acquirer expectations, in his session, Who, What, Why, How?
“The title comes from the traditional ‘Five Ws’ of investigation or problem solving and should be questions a PF can answer about each of its submerchants,” Spalinger said.
These topics are at the core of what a PF does, Spalinger said, and they are just two of the deep dives into what you need to know to be a successful payment facilitator that are slated for day 2, the PF Academy at PF WORLD 2019. The day will also cover the major risk factors for PFs, contracting, sales, card brand rules and more.