NMI documenting your policy ) going through those underwriting guidelines , to make sure you have something in place that will help you carry that load .”
Undoubtedly , it ’ s a complicated , multifaceted and ever-shifting situation . But , by implementing these measures and remaining diligent , payment providers can successfully keep one step ahead of both regulations and fraudsters alike .
Check that you have understood risk guidelines that coveringjust your risk underwriting and initial merchant onboarding decisions , but that also cover your risk and fraud-monitoring teams . It ’ s critical that everyone is working in lockstep , understands what your policies are , and is able to pivot .
“ If you have trouble doing that , or any part of that , seek help from experts such as NMI ,” Talbott adds .
“ ETA also has its guidelines available for support . Seek all the resources that you can to get yourself comfortable , because the money you spend upfront – and the peace of mind that you will gain from that – are far better than the fines , penalties , and risks that you face down the road .”
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