Standard Payments, LLC, the majority-owned merchant services subsidiary of Dallas-based payments services company Transactional Technologies, LLC, has enabled its proprietary JetPay™ real time BIN blocking utility for Beverly Hills, CA-based MatchNet plc.
“The rapid development and deployment of real time BIN blocking for MatchNet is an ideal illustration of our unique business model,” said David L. Tepoorten, President of Standard Payments. “We build and manage custom payment acceptance solutions; MatchNet demonstrated a specific need and we acted quickly to provide a solution.”
BIN Blocking is a fraud prevention service that permits the establishment of unique business rules to allow or deny by BIN (Bank Identification Number), or by country or by combinations of both. Because the merchant holds liability for fraud-related chargebacks in the card-not-present payments acceptance environment, BIN blocking is a valuable risk mitigation and chargeback reduction tool.
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