FSV Payment Systems Completes MasterCards Risk Assessment Management Program Review

Tuesday 23 November 2004 10:11 CET | News

FSV Payment Systems (FSV) has completed and passed the MasterCard Risk Assessment Management Program (RAMP) review.

The Risk Assessment Management Program (RAMP) demonstrates MasterCards continued commitment to reduce fraud and increase profitability for members. MasterCard requires that each member conduct its issuing and/or acquiring activity in such a manner to avoid the risk of fraud. To evaluate a members initial and continuing ability to avoid such, MasterCard has developed standards to determine adequate and effective loss control programs and makes sure they are in place. MasterCard standards include criteria such as a rules-based authorization strategy, limits on single and multiple-day transaction velocity and monetary spending, and the capability to react quickly to fraud attacks by adjusting authorization system parameters in a timely fashion. Also, the member must demonstrate the existence and use of meaningful controls with programs designed to monitor merchant authorization and deposit activity in terms of number and dollar volumes.

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Categories: Payments & Commerce | Payments General
Countries: World
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