Streamlined compliance for payments institutions
Achieve card association compliance in a fraction of the time - and focus your resources on growing your revenue.
Used by global players in payments
Know Your Business (KYB) solutions for payment providers
We tailor our solutions to assist payment institutions like acquiring banks, payment service providers, and payment facilitators in compliance, risk assessment, and merchant due diligence. Ensure a healthy and profitable portfolio by understanding your merchant's business through our rigorous KYB checks.
Why compliance matters
Compliance with KYB requirements and card scheme rules like BRAM or VIRP is essential for avoiding fines or non-compliance assessments.
How to assess your merchants
Web Shield's KYB software simplifies the due diligence process by offering a full suite of tools to meet complex rules with ease, ensuring safe and compliant growth.
What effective monitoring means
A growing merchant portfolio needs to be safeguarded. Use our ongoing merchant and website screening to Stay ahead of KYB requirements and manage your risks.
Merchant underwriting
Enhance your workflows with lightning-fast onboarding and optional expert support.
Merchant monitoring
Automate your merchant monitoring and website screening with our modular solution.
Crypto merchant compliance
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Underwriting training
Train your team in unique online and offline training sessions.
Chargeback prevention
Web Shield's merchant-facing dispute alert management platform for acquirers.
Edgars Valmers
Head of E-Commerce and Payment Card Department, LPB Bank
FAQs
New to the payments industry? We have answers to common questions.
Know Your Business (KYB) is the review of a company with which a firm is conducting business. It aims to verify the identity and authenticity of potential business customers to overcome illicit financial activities such as money laundering or terrorist financing. Primarily, KYB concentrates on discerning the identity and ownership structure of the company in question. It seeks to ascertain whether the entity is legitimate or merely a front for dubious operations, shedding light on the beneficiaries of its financial transactions. Essential elements of KYB checks involve identifying the ultimate proprietor of the company and significant shareholders. Vital details, including business addresses, licenses, registrations, and identification papers of the principal business proprietors, must be scrutinised and documented.
A merchant is a company that sells goods or services to consumers or other businesses. When a merchant wants access to card payments for their business, they apply for it with an acquiring bank, payment service provider, or similar institution. This means they must fill out an extensive application form that asks for key data like the merchant's address, directors, company registration, ultimate beneficial owner, and more. The other party will then underwrite the merchant during the onboarding process.
For acquiring banks and payment service providers, underwriting means investigating a merchant and their websites for signs of fraud, non-compliance with card scheme rules or local regulations, and other risk factors. It traditionally involves reviewing all data provided in the merchant application. Merchant underwriting takes place during the merchant onboarding process and culminates in accepting or declining a merchant application.
An acquirer enables merchants to accept payments from buyers, providing assurance that they will receive payment for the goods, services, or currency, provided they have followed the correct procedures. To accomplish this, acquirers employ a combination of risk management, IT infrastructure, and customer service operations. Risk management takes precedence due to the potential implications for their business, reputation, and financial results if an acquirer fails to accurately assess their risk exposure. Payment service providers (PSPs) and payment facilitators differ from acquiring banks in many ways, but from a merchant perspective, they occupy a similar spot in the payments ecosystem.
Launched in 2005, the BRAM program is designed to protect Mastercard and its customers from illegal and brand-damaging transactions which may pose significant fraud, regulatory and legal risk or cause reputational damage. It is one of the two main rule sets our solutions and underwriters work with.
In 2023, the Visa Integrity Risk Program replaced the Global Brand Protection Program (GBPP). The program formalises the rights and responsibilities of both Visa and connected acquiring banks around high-integrity risk merchants and illegal transactions. Among other obligations, acquirers must register merchants in specific sectors with Visa before signing them. It is one of the two main rule sets our solutions and underwriters work with.
Web Shield is an official Mastercard Merchant Monitoring Service Provider. That means that Mastercard Principal Members can expect mitigation for penalties by Mastercard resulting from non-compliance issues.
Regulation, fraud, and expert knowledge
We keep you updated on card scheme rules, fraud trends, underwriting best practices, and Web Shield products.
Transaction Laundering Threats: Emerging Risks in 2024
Merchant Category Codes (MCCs): A Complete Guide
Visa reVAMP Chargeback Monitoring Updates
Let us enable your card scheme compliance
We help you comply with card scheme rules faster and more efficiently, so your organisation can focus on the tasks that generate revenue and add value.