Paymate has launched a new risk-managed payment gateway service for larger online merchants. Paymate Sentinel plugs into the merchant's website to replace a traditional payment gateway, and prior to bank authorization, Paymate conducts an online, real-time risk assessment using a combination of neural technology and a sophisticated rules engine to detect potentially fraudulent payments. A small percentage of risky payments are reviewed manually by Paymate's staff, but most are decisioned by the risk engine. Approved payments are submitted as usual to the merchant's bank for authorization and direct settlement to the merchant's bank account as normal.
Garrett Gafke, Director and CEO of Paymate Global Inc., said in a press release, "With the explosion in global ecommerce, more businesses are trading across borders and discovering that losses from online fraud can be crippling if not managed diligently. Losses of up to 8% of payments value in risky product categories are not uncommon. Traditional payment gateways and simple tools are inadequate."
Paymate is an online payment service based in Australia and is an approved payment method on eBay.com.
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Paymate has launched a new risk-managed payment gateway service for larger online merchants. Paymate Sentinel plugs into the merchant's website to replace a traditional payment gateway, and prior to bank authorization, Paymate conducts an online, real-time risk assessment using a combination of neural technology and a sophisticated rules engine to detect potentially fraudulent payments. A small percentage of risky payments are reviewed manually by Paymate's staff, but most are decisioned by the risk engine. Approved payments are submitted as usual to the merchant's bank for authorization and direct settlement to the merchant's bank account as normal. 