Nanyue Bank will integrate the Transaction Laundering Detection (TLD) solution, which is a part of Austreme Merchant Monitoring Service Series, in its acquiring operations. The solution serves as the most comprehensive risk control and management solution for online merchant payment card transactions.

Nanyue Bank was founded in 1998 and extended its service portfolio in cross-border payments in 2014 with the member bank qualification obtained from Visa and MasterCard. It was recognized as the “Best Strategic Partner” of MasterCard Acquiring Business and it was the first regional bank conducting cross-border payment businesses in Mainland China. In 2016, Nanyue Bank started its cooperation with JCB in launching cross-border bank card payments business. Meanwhile, it continued to strengthen its strategic relationship with the cross-border payment giants like Computop and Sofort; and built a transaction channel network that covers global card issuing banks. Nanyue Bank enforces the full process monitoring model throughout its risk management cycle of bank card transaction business and persists in putting risk management as the highest priority. The implementation of Austreme TLD solution is to prevent contracted merchants from sharing its account with unauthorized merchant websites, processing payment card transactions and fulfilling the related payment business risk management and transaction monitoring rules. Nanyue Bank is also able to avoid the heavy penalty and business losses due to policy violation and breaches of other regulations. In addition, the TLD solution is targeted at the illegal e-commerce and brand violation activities, including but not limited to illegal sale of drugs that are prohibited, prescription drugs, tobacco products, offensive or non-consensual adult pornography or child exploitation, gambling, counterfeits, goods or services in violation of intellectual property rights and certain prohibited chemicals.

“Austreme is the Registered MasterCard Merchant Monitoring Service Provider (MMSP). It is also the first and the only MMSP who provides TLD service that is PCI DSS compliant. The TLD solution monitors the hidden and illegal activities of contracted merchant website. It help minimizing the risk of violating internal card associations’ policy effectively that our bank is now emphasizing, and that is, “Control the Risk”,” said the spokesman who is in charge of Payment Business Division of Nanyue Bank.

Terence Chau, Director of Risk & Compliance of Austreme said, ”Austreme is well experience in implementing Transaction Laundering Detection service for banks and payment service providers worldwide. We make use of our leading role and technology to keep Nanyue Bank’s risk in credit card transaction violation to a minimum.”