The Payments Association

FEBRUARY 10, 2025

Navigating AML obligations in the age of virtual IBANs February 10 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? The compliance challenges of virtual IBANs, focusing on AML obligations and regulatory gaps. Why is it important?

IBAN 88

IBAN AML Master Account Due Diligence 88

Exact Payments

OCTOBER 30, 2023

Differentiator 1: Payment Aggregation The most crucial distinguishing factor of PayFacs is that they operate as merchants themselves and register for processing accounts directly with an acquiring bank. They are then able to onboard and aggregate sub-merchant accounts under their master account.

Facilitators 52

Facilitators Processors Payment APIs and Integration ISOs 52

EBizCharge

NOVEMBER 12, 2024

Some examples of this compliance include Payment Card Industry Data Security Standards (PCI DSS) , Know Your Customer (KYC), and Anti-Money Laundering (AML) regulations. They provide merchants with credit card processing services, but the merchant agreements are held with acquiring banks, not the ISO itself.

Underwriting 52

Underwriting ISOs Risk Assessment Assessments 52