Amazon launches PSP programme to protect sellers against fraud

Tuesday 2 February 2021 13:57 CET | News

Amazon has launched a payment service provider programme and announced that sellers who use a third-party PSP will be limited to those participating in the new programme.

According to EcommerceBytes, the programme is designed to protect sellers from bad actors. Amazon stated that this will enhance their ability to detect, prevent, and take actions against bad actors, with the aim of protecting customers and sellers from fraud and abuse.

From March 2021, sellers adding a new bank account from a PSP must use a PSP that is participating in the programme. Sellers using a PSP not enrolled in the programme have until the end of May 2021 to become compliant.

Amazon informed that it requires PSPs to have appropriate risk and compliance controls in place and exchange information with Amazon to reduce the potential for fraud and abuse.

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Keywords: Amazon, PSPs, programme, sellers, fraud prevention, ecommerce
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime