Tribe Payments Tapped by PayNice for Risk Monitoring

Payment technology Tribe Payments has partnered with mobile payment platform PayNice to provide risk monitoring solutions for the latter's merchant customers.

With this collaboration, PayNice aims to offer an added layer of transaction security, as Tribe's Risk Monitor tool is designed to consider each individual data point of a transaction, enabling PayNice to carry out risk-based decisions in real-time, right down to individual transaction level. 

The mobile payment platform is looking to connect retailers with their customers by enabling electronic payments' acceptance and management, with the company having sought a solution for monitoring risk that gathered as much relevant data as possible to offer merchant customers better control over their risk exposure to stay ahead of fraudsters. 

By leveraging Tribe's risk monitoring solution PayNice will be able to access real-time transaction data, which also includes data from third party PEPs  and sanctions information providers. Additionally, the solution includes transaction checks across merchant codes, BIN, country, issuer, account type, transaction value, industry, as well as a range of other parameters. When this data is combined, PayNice and its customers will be provided with the ability to have trends spotted and to respond to changing risk levels in an expedited manner. 

(Source: The Paypers)