The Payments Association

FEBRUARY 10, 2025

While vIBANs offer innovation in payment systems, they introduce risks like money laundering due to insufficient oversight. Payment Service Providers must strengthen due diligence, monitoring, and collaboration with regulators to address these risks. This leads to inadequate due diligence. What’s next?

IBAN 88

IBAN AML Master Account Due Diligence 88

Stax

AUGUST 22, 2024

Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks. Thorough due diligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Stax

JANUARY 1, 2024

These might include free business advice, options to set up joint account holders for partnerships, higher transaction limits, or bundled products and services that offer cost savings. Analyze all associated fees, such as monthly maintenance fees, transaction fees, or minimum balance fees, and how they might offset interest earnings.

Accounts 88

Accounts Online and Mobile Banking API ATM 88