IRIS for acquirers

While the extensive press coverage of issuer related fraud has created public awareness of “ATM skimming” or “identity theft”, fraud at the acquirers’ end continues to play a minor role from a public awareness perspective. This is remarkable since just one single merchant fraud case can result in losses well in excess of a million Euros if no proper fraud prevention measures have been taken. In fact, fraud related chargebacks alone sum up to hundreds of millions of Euros each year.

Acquirers may either be victims of fraud committed by collusive merchants, or acquired merchants might become victims of third party fraud attacks, in turn causing harm to the acquirer’s business. Acquirers must therefore ensure that they are alerted at a very early stage to possible fraud perils. Moreover, alerts have to go along with real-time fraud prevention measures such as temporarily blocking payments to suspicious merchants.

IRIS addresses both aspects, by providing fraud prevention and risk control to the acquirer and its merchants in a single IRIS installation – of course in real-time.

Thanks to its multi-channel architecture, IRIS is very open to accepting and combining numerous data feeds through configuration, without having to code or customise the system – be it POS, ATM or e-commerce authorisation requests, postings, master data, chargebacks, fraud messages, retrieval requests, etc., – it’s your choice.

IRIS’s multi-tenancy capabilities enable acquirers to provide individual merchants with customised fraud prevention services. Such merchants can either maintain their decision model autonomously, or the acquirer delivers a decision model tailored just for this merchant, without any impact on other merchants.