G2 Risk Solutions and Mastercard Partner to Combat Transaction Fraud
Complementary data intelligence offers payments providers new insights into hidden portfolio risk.
BURLINGAME, Calif., March 04, 2024—G2 Risk Solutions (G2RS), the leading provider of merchant risk intelligence for the global payments industry, is partnering with Mastercard to provide merchant acquirers with a more streamlined experience to help them reduce transaction fraud.
Transaction laundering (TL) is a type of fraud in which a registered merchant account is used to process sales of illegal goods and services. These accounts are being used fraudulently by bad actors whose activity puts legitimate payment providers at significant financial and reputational risk.
This collaboration adds Mastercard’s powerful Brighterion Artificial Intelligence (AI) technology to G2RS’ end-to-end transaction laundering detection solution to address evolving risks associated with increased criminal activity.
G2RS will offer a leading merchant risk solution backed by:
The unrivaled G2RS Merchant Map includes 20 years of unique merchant data, including billions of data points validated by expert analysts. It provides the industry’s 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 instill trust in every interaction.”
Rochelle Blease, President, G2 Risk Solutions, said: “Payments 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 defenses to identify merchant health signals and protect the integrity of the payments ecosystem.”
Contacts
Media Contact:
Nicole Selinger (For G2 Risk Solutions)
nicole@kmprcollective.com
314-805-2165
View source version on businesswire.com: https://www.businesswire.com/news/home/20240304550784/en/
