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SAAS delivery changes options for merchant payments

R.M.: Before a bank even considers entering payments in a direct manner they need to engage in a preparation process that considers key factors for board review and buy-in, like fraud prevention, oversight compliance, and automation of the underwriting and onboarding processes. Today that model may...

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Published in:BankBeat 2018-11, Vol.203 (12), p.34-34
Main Author: Dullum, Justin
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Language:English
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description R.M.: Before a bank even considers entering payments in a direct manner they need to engage in a preparation process that considers key factors for board review and buy-in, like fraud prevention, oversight compliance, and automation of the underwriting and onboarding processes. Today that model may no longer make sense for a number of reasons, since a turnkey risk management and payments platform lets a bank white label and control the merchant relationship to avoid the reputation risk a merchant services partner may raise. [...]a business needs to accept credit cards and automated clearing house.
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subjects Automation
Fraud prevention
Risk management
Small business
Software services
title SAAS delivery changes options for merchant payments
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