The Payments Association

FEBRUARY 10, 2025

The primary focus on monitoring master accounts leaves an oversight gap that can be exploited for illicit financial activities. Since vIBANs are often treated as extensions of master accounts rather than independent relationships, firms fail to apply appropriate risk assessment frameworks.

IBAN 88

IBAN AML Master Account Due Diligence 88

EBizCharge

NOVEMBER 12, 2024

Underwriting examines various factors like business type, financial history, transaction volumes, and the potential risk they pose. Underwriters analyze factors such as transaction volumes and potential risks to determine the likelihood of financial instability or fraud. This helps in classifying the business as high risk or low risk.

Underwriting 52

Underwriting ISOs Risk Assessment Assessments 52

PYMNTS

SEPTEMBER 21, 2018

. “A typical real estate customer will have multiple banking relationships, hundreds of checking accounts, multiple integration packages and they want to provide multiple payment types to suppliers.” Plus, the security associated with virtual cards far surpasses that of paper checks.

Checks 53

Checks Payments Commercial Card Master Account 53

The Fintech Times

JULY 24, 2024

Even since the introduction of FedNow, it seems its popularity has only grown – as it hit new quarterly high values and volumes. Both offer similar services, but FedNow participants can transfer funds from their Federal Reserve master account, which means they have an extra pool of resources for liquidity management.

FedNow 59

FedNow Instant Payments RTP Federal Reserve 59