This page contains a Flash digital edition of a book.
security management tools to protect merchants from suspicious purchasers and unusual credit card activity. Tese important security protocols minimize chargebacks while maintaining high conversion rates as well as reduce overall fraudulent exposure.


Without a secure and established payment service provider, online businesses would need to contact multiple financial institutions and establish many different relationships to allow for the various types of payment processing solutions. Tis approach is both time consuming, expensive and difficult simply because companies generally specialize in their respective fields and are often not equipped to follow the many financial regulations set-forth by authorities and the Payment Card Industry council.


Choice of payments provider


In today’s competitive and fast paced business environment, choosing the right payment service provider for a business can be the difference between failure and success. While on the surface, payment service providers appear to offer the same online services, the reality is often very different.


When choosing a PSP for a newly established online company, it is important to ascertain the types of industries a payment service provider has processed transactions for in the past and when the PSP was founded. For example, it would be unwise for a large online Forex or Binary Options company to establish a processing relationship with a small or young payment service provider that has limited or


70 | INSTITUTIONAL FX SERVICES - THE BROKERS HANDBOOK 2012/2013


no experience with the online trading market.


Companies within certain industries and verticals find it especially difficult to obtain payment processing solutions due to the elevated risk that is inherent with their company’s business model. One of the many benefits of working with a payment service provider that specializes in the online trading industry is that it is specially equipped to contend with high risk credit card processing.


When a PSP is processing transactions for several companies within a specific and common online arena, it has greater exposure to online purchasers attempting to commit fraud or credit card theft on a specific business model and vertical. Tis greater exposure helps identify and prevent future incidents of fraud or credit card theft for all its current merchants.


Many registered companies in the Forex, Binary Options, and e-gaming arenas also find it difficult to obtain credit card and payment processing because they are not regulated within certain regions or financial zones. At present, only few payment service providers have managed to establish the required business setup to support such operations until the necessary regulatory requirements are met.


Security standards


Another major concern for online merchants is whether their customers’ credit card information is securely maintained during and after the payments process. To minimize the possibility of credit card theft or fraud, payment service providers are required to practice strict security standards set forth by the Payment Card Industry council. Tese specific data security standards


Business process and outsourcing


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124