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Know Your Business (KYB) solutions for payment providers

We tailor our solutions to assist payment institutions like acquiring banks, payment service providers, and payment facilitators in compliance, risk assessment, and merchant due diligence. Ensure a healthy and profitable portfolio by understanding your merchant's business through our rigorous KYB checks.

Why compliance matters

Compliance with KYB requirements and card scheme rules like BRAM or VIRP is essential for avoiding fines or non-compliance assessments.

How to assess your merchants

Web Shield's KYB software simplifies the due diligence process by offering a full suite of tools to meet complex rules with ease, ensuring safe and compliant growth.

What effective monitoring means

A growing merchant portfolio needs to be safeguarded. Use our ongoing merchant and website screening to Stay ahead of KYB requirements and manage your risks.

"Web Shield's solutions have automated a large part of our underwriting and monitoring procedures, mitigating the risk of human error simultaneously."

Edgars Valmers

Head of E-Commerce and Payment Card Department, LPB Bank


New to the payments industry? We have answers to common questions.

What is KYB?

Know Your Business (KYB) is the review of a company with which a firm is conducting business. It aims to verify the identity and authenticity of potential business customers to overcome illicit financial activities such as money laundering or terrorist financing. Primarily, KYB concentrates on discerning the identity and ownership structure of the company in question. It seeks to ascertain whether the entity is legitimate or merely a front for dubious operations, shedding light on the beneficiaries of its financial transactions. Essential elements of KYB checks involve identifying the ultimate proprietor of the company and significant shareholders. Vital details, including business addresses, licenses, registrations, and identification papers of the principal business proprietors, must be scrutinised and documented.

What is a merchant?

A merchant is a company that sells goods or services to consumers or other businesses. When a merchant wants access to card payments for their business, they apply for it with an acquiring bank, payment service provider, or similar institution. This means they must fill out an extensive application form that asks for key data like the merchant's address, directors, company registration, ultimate beneficial owner, and more. The other party will then underwrite the merchant during the onboarding process.

What is merchant underwriting?

For acquiring banks and payment service providers, underwriting means investigating a merchant and their websites for signs of fraud, non-compliance with card scheme rules or local regulations, and other risk factors. It traditionally involves reviewing all data provided in the merchant application. Merchant underwriting takes place during the merchant onboarding process and culminates in accepting or declining a merchant application.

What is an acquiring bank?

An acquirer enables merchants to accept payments from buyers, providing assurance that they will receive payment for the goods, services, or currency, provided they have followed the correct procedures. To accomplish this, acquirers employ a combination of risk management, IT infrastructure, and customer service operations. Risk management takes precedence due to the potential implications for their business, reputation, and financial results if an acquirer fails to accurately assess their risk exposure. Payment service providers (PSPs) and payment facilitators differ from acquiring banks in many ways, but from a merchant perspective, they occupy a similar spot in the payments ecosystem.

What is the Business Risk Assessment and Mitigation program (BRAM)?

Launched in 2005, the BRAM program is designed to protect Mastercard and its customers from illegal and brand-damaging transactions which may pose significant fraud, regulatory and legal risk or cause reputational damage. It is one of the two main rule sets our solutions and underwriters work with.

What is the Visa Integrity Risk Program (VIRP)?

In 2023, the Visa Integrity Risk Program replaced the Global Brand Protection Program (GBPP). The program formalises the rights and responsibilities of both Visa and connected acquiring banks around high-integrity risk merchants and illegal transactions. Among other obligations, acquirers must register merchants in specific sectors with Visa before signing them. It is one of the two main rule sets our solutions and underwriters work with.

What is a Merchant Monitoring Service Provider (MMSP)?

Web Shield is an official Mastercard Merchant Monitoring Service Provider. That means that Mastercard Principal Members can expect mitigation for penalties by Mastercard resulting from non-compliance issues.

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