MUNICH and LONDON, June 6, 2013 /PRNewswire/ --
PAY.ON AG and Web Shield Ltd. have entered into a service agreement to further enhance PSP's, ISO's and acquirers' risk management environment. Thus, Web Shield's merchant due diligence and risk management monitoring software is now available in PAY.ON's value-added services. With this partnership, Web Shield is expanding its global distribution and further fostering its market presence. The Web Shield risk management modules IPSPShield and IPSPMonitor will allow PAY.ON once again to extend its value-added portfolio for its payment service providers, independent service operators and financial institutes, such as acquirers. Web Shield is further an ideal addition to PAY.ON's Merchant Onboarding Tool (http://www.paysourcing.com/merchant-onboarding).
PAY.ON's client base can now benefit from Web Shield's sophisticated risk management tools. The advantages for PSPs/ISOs and acquirers at a glance: Web Shield enables payment providers to attain control over the required risk assessment while reducing the associated merchant screening and monitoring workload by around 90%. A mass of fraudulent transactions are attempted every day worldwide. The burden is placed on bank acquirers and PSPs, who bear the ever-increasing costs due to card scheme fines or the loss of merchant accounts. Thus, 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. For more detailed information about the Web Shield products, payment providers can contact the PAY.ON sales teams directly.
Markus Rinderer, CEO of PAY.ON AG, commented: "At PAY.ON, we strive to constantly offer our clients value-added services - in addition to our own payment services - that will support their business success and growth. This also includes services that assist in working more efficiently with merchants. Web Shield's products will provide our clients with advanced and direct merchant risk management and monitoring services. The services will help them in protecting their transactions effectively from merchants trading illegally."
Christian Chmiel, COO of Web Shield, commented: "We are very glad to now have such a recognised and known partner in the payment industry at our side. Protecting merchant acquirers, PSPs and ISOs from brand damage and reputational issues is key, and this partnership will enhance our possibilities to support PAY.ON's clients in this area."
About Web Shield
Web Shield's software provides simultaneous website checks and detection of illegal aggregation, ensuring that the conducted due diligence process complies with the highest-available security level. It also includes due diligence checks of mobile applications and an integrated alert system for multiple websites. The time reduction is up to 90% in the areas of risk management and clients' due diligence checks on merchants. The application of the latest forensic technologies guarantees a high quality of due diligence procedures. The software includes automated, sophisticated documentation of risk management results, background research and reputation scoring. The products support several languages with regard to website compliance. For more information, please visit http://www.webshieldltd.com.
PAY.ON AG is the world's leading operator of payment infrastructure systems and supplier of the white-label PaySourcing platform and the routing gateway PayPipe. PaySourcing allows clients to outsource all relevant payment and risk management processes or to access them from the cloud and, as such, to become a payment service provider, whilst cutting costs and saving both time and resources. PayPipe is a high-performance payment gateway that connects all participants in the global payment market through just one API. As a result, PayPipe accelerates global availability for all market participants like no other network. Transactions can be appropriately processed online via PayPipe, using all payment methods in all currencies across all systems. All PAY.ON systems guarantee strict adherence to the security requirements and standards that apply to the international payment market. Additional information is available at http://www.payon.com.
Press contact - PAY.ON AG
Manager Global Press and Public Relations
Phone: +49 (0)89 45230-552
Press contact - Web Shield
Chief Operating Officer
SOURCE PAY.ON AG