Jewel Paymentech signs MoU with PCI-QSA Rock

Jewel Paymentech and Rock Pte Ltd (Rock), a PCI Qualified Security Assessor (QSA) and Visa Approved Security Assessor (SA) inked a Memorandum of Understanding to collaborate in developing and deploying PCI-related products to clients in order to expedite on-boarding and manage risks of merchants and agents.

The framework will enable the development of next generation products that will address current industry pain points on merchant KYC.

Jewel Paymentech develops intelligent solutions to manage risks associated with payments acquiring for banks, payment processors and marketplaces. The solutions encompass merchant application due diligence, predictive chargebacks, detection of illegal and counterfeit products, anti-money laundering and transaction fraud prevention.

Rock provides IT consulting, audit and education services. It is an approved PCI company which conducts data security assessment for banks, processors and merchants. In addition, Rock is also approved by Visa to perform ACS (Access Control Server), Approved Vendor Program (AVP) and PIN assessments.

The MoU was signed by Lee Wooi Siang, COO of Jewel Paymentech and Gwendyln Chong, CEO of Rock Pte Ltd.

 

External References

Global List of PCI Qualified Security Assessors (QSA)

Global List of Visa Security Assessors (SA)s

Rock

Posted by

Post link

16 Jan / 2017

Wells Fargo Invests in Financial Risk Technology Startup Jewel Paymentech Through Startup Accelerator Program

Singapore (8 June 2016) – Jewel Paymentech, provider of risk intelligence solutions to merchant acquirers, today announced that it has been selected for the Wells Fargo Startup Accelerator program through a highly competitive global selection process. Wells Fargo is also investing in the company as part of the program. During the six-month, hands-on Startup Accelerator program, Wells Fargo mentors will provide guidance to Jewel Paymentech, including ways to solve merchant acquisition and risk issues. “We are excited that our technology has been recognised by Wells Fargo, and we have been given the opportunity to work with one of the world’s largest banks. It supports the Jewel Paymentech value proposition to the financial services industry and its interest in new technology to mitigate fraud, credit and money laundering risks amplified by rapidly growing e-commerce merchant portfolios.” said Sean Lam, co-founder and CEO, Jewel Paymentech.

The Wells Fargo Startup Accelerator is designed to explore innovation and big ideas in areas such as analytics, mobile, cybersecurity, payments, lending, user-interaction design, artificial intelligence, virtual reality, digital marketing, and operations – with innovators outside Wells Fargo and financial services for the future benefit of the bank’s customers.

“We’re excited to be investing in Jewel Paymentech through our Startup Accelerator and have it be part our investment portfolio,” said Steve Ellis, head of Wells Fargo’s Innovation Group. “Jewel Paymentech’s risk technology and focus on onboarding procedures and speed and scalability in a bank’s merchant acquisition efforts, make it particularly interesting for us to explore.”

Jewel Paymentech’s solutions can be extended to online marketplaces, payment facilitators and closed-loop payment systems. Wells Fargo’s investment adds to Jewel Paymentech’s Series A funding round led by Tuas Capital Partners Pte. Ltd.

 

About Jewel Paymentech

Jewel Paymentech is a financial risk technology company founded in 2014 with a mission to develop intelligent risk solutions for the banking and electronic payments industry. Jewel’s suite of intelligent solutions helps banks and payment facilitators conduct merchant due diligence and manage transaction fraud risks using predictive analytics. Jewel also offers automated real-time solutions to large merchants such as online marketplaces, to identify illegal and counterfeit goods. In 2015, Jewel was named by SWIFT, as one of the most promising FinTech companies in Asia.

Posted by

Post link

08 Jun / 2016

GHL Partners With Jewel Paymentech To Strengthen Merchant Management

Singapore (20 April 2016) – GHL Systems Berhad has teamed up with financial technology startup Jewel Paymentech (“Jewel”) to roll out intelligent merchant acquiring risk management solutions to mitigate fraud, brand, credit, and AML risks for GHL’s e-commerce (“eGHL”) and retail merchant acquiring business.

Jewel’s award winning One Sentry® uses advanced analytics to monitor and identify suspicious merchant behaviour. This fully-automated comprehensive KYC (know your client) and due-diligence service reduces the burden of manual merchant monitoring for illegal activities, allowing banks and payment facilitators to focus on business growth.

Fraud Wall, a solution developed by Jewel provides GHL with advanced capabilities to detect and prevent fraudulent transactions at the merchant level. Fraud Wall supports fraud prevention for both e-commerce and retail channels.

GHL has also deployed Capture, a real-time merchant on-boarding tool developed by Jewel. Armed with mobile tablet devices, GHL’s sales team can now acquire merchants on-site, doing away with the manual paper forms, and submitting on boarding documents remotely to GHL’s M3 Risk engine for real-time processing. Capture is integrated with GHL’s M3 Risk engine and automatically checks information with external sources such as CTOS, RAMCI and BNM Alert List.

“One Sentry® and Fraud Wall not only enhance our internal risk management capability but also enables our eGHL entity to provide our online merchants with a capability to detect potentially fraudulent transactions. Capture digitises and integrates the front end merchant application process right through to our proprietary M3 Risk engine. In short, we can on-board merchants much faster than anyone and we can provide them with better value-added services. This is terrific news for merchants!” said Raj Lorenz, Group CEO of GHL Systems Berhad.

Dunstan Maurice, Group Risk Head of GHL Systems Berhad added that Jewel’s offering is in line with GHL’s direction to embrace innovative and intelligent technologies to manage risk.

According to Sean Lam, Jewel’s CEO, the collaboration with GHL will allow Jewel to leverage on GHL’s extensive network in ASEAN to deploy Jewel’s suite of merchant origination and risk management solutions.

GHL JEWEL

(L-R) Raj Lorenz, Sean Lam, Dunstan Maurice


About the GHL Group

GHL Systems Berhad (“GHL”) is ASEAN’s leading payment service provider with key operations in Malaysia, Philippines, Thailand and Australia. GHL provides world-class payment services and solutions encompassing physical, Internet and mobile payments on a sale, rental or transactional basis and is one of the top merchant acquirers in the region.

GHL manages more than 138,000 point of sales in ASEAN that enables credit card, debit card, prepaid contactless payment, loyalty, prepaid top up as well as bill payment collection services. As part of our “Beyond ASEAN” strategy, GHL has also successfully established a client base in more than 20 countries.

GHL has been listed on Bursa Malaysia since 2003. The group’s market capitalization as at 19 April 2016 was SGD195 Million.

For more information on GHL Group kindly visit www.ghl.com


About Jewel Paymentech

Jewel Paymentech (“Jewel”) is a financial risk technology company founded in 2014 with a mission to develop intelligent risk solutions for the banking and electronic payments industry.

Jewel’s suite of intelligent solutions helps banks and payment facilitators conduct merchant due diligence and manage transaction fraud risks using predictive analytics. Jewel also offers automated real-time solutions to large merchants such as marketplaces, to identify illegal and counterfeit goods.

Jewel has also been named by SWIFT as one of the most promising FinTech companies in Asia.

For more information on Jewel Paymentech kindly visit www.jewelpaymentech.com

Posted by

Post link

20 Apr / 2016

Archives