Payment technology Tribe Payments has partnered with mobile payment platform PayNice to provide risk monitoring solutions for the latter’s merchant customers. With this collaboration, PayNice aims to offer an added layer of transaction security, as Tribe’s Risk Monitor tool is designed to consider each individual data point of a transaction, enabling PayNice to carry out risk-based decisions in real-time, right down to individual transaction level.

The mobile payment platform is looking to connect retailers with their customers by enabling electronic payments’ acceptance and management, with the company having sought a solution for monitoring risk that gathered as much relevant data as possible to offer merchant customers better control over their risk exposure to stay ahead of fraudsters. Risk monitoring within the partnership and companies’ product offering By leveraging Tribe’s risk monitoring solution PayNice will be able to access real-time transaction data, which also includes data from third party PEPs and sanctions information providers. Additionally, the solution includes transaction checks across merchant codes, BIN, country, issuer, account type, transaction value, industry, as well as a range of other parameters.

When this data is combined, PayNice and its customers will be provided with the ability to have trends spotted and to respond to changing risk levels in an expedited manner. PayNice combines management tools and electronic payment features with artificial intelligence, with the company having the goal of providing workers in the catering and trade markets with the necessary tools to keep up with present and future challenges. PayNice officials stated in the press release that security is everything when talking about delivering payment services, with the company having had a need for a payments technology provider that had the ability to offer the data required to enable faster issues’ spotting to address them earlier.

With this requirement at its basis, the company believes that by having selected Tribe’s monitoring solution they are provided what they need. Tribe Payments representatives added that they have noticed a growth in demand when it comes to businesses that want to protect merchant customers against a continuously growing threats’ array. However, if the fraud management systems aren’t in line with payments innovation, then said innovation can create risk, not prevent it.

With PayNice having recognised this challenge, Tribe delivers a tailor-made risk solution that can be configured based on their needs, customer base, and geographies to ensure that the challenge is met. PayNice is a mobile payment platform created with the aim of connecting retail with consumers. The company enables entrepreneurs that operate in the trade and catering sector to be equipped with advanced technological tools.

Furthermore, it aims to counter financial speculation against SMEs by having the management and maintenance costs typical of financial intermediaries reduced. Tribe Payments offers modular technology to banks, fintechs, and acquirers to enable them to provide innovative payments services without having to compromise speed, scalability, or quality. Its core platform, ISAAC, supports issuer and acquirer processing and provides a range of API-led enhanced services of the likes of a proprietary 3D Secure solution, data insights, and risk monitoring.

Its technology stack also includes the Digital Banking, Bank Connect, and Open Banking solutions which offers fintech and payment companies access to banking rails and financial services in a fast and easy manner. Furthermore, its cloud-based services give clients and partners increased flexibility and speed to market, alongside the ability to scale, expand across borders, and work better in complex regulatory environments. .