Ever-Changing Payments Industry with Elaina Smith of Secure Bancard on Risk & Technology | PEP029

The Payments Experts Podcast

Unlock the secrets of the payment processing world with insights from Elaina Smith, the Chief Financial Officer at Secure Bancard. Discover how Elaina transitioned from a career in public accounting to co-founding a leading wholesale Independent Sales Organization (ISO) with her husband. Her journey is a testament to adaptability and continuous learning in a fast-paced industry where every day presents new challenges and opportunities.
Explore the inner workings of a wholesale ISO that insources critical activities usually outsourced to processors, and understand the significance of protecting relationships with clients in high-risk sectors like CBD and auto warranties. Elaina shares her expertise on risk management strategies that keep businesses afloat amidst financial and reputational challenges. Gain a deeper understanding of the regulatory landscape and how it affects merchant operations, especially those categorized under high-risk portfolios.
Dive into the complexities of merchant education within the payment processing industry. Learn about the challenges merchants face, from chargebacks to transaction laundering, and the crucial role agents play as trusted advisors. Elaina discusses the intricacies of implementing faster funding methods, the relentless battle against fraud, and the technology investments necessary for staying competitive. Finally, hear about the ongoing issue of identity theft and the MATCH list, along with the rigorous processes involved in risk assessment and merchant support. This episode is packed with valuable insights for anyone interested in the ever-evolving payment processing sector.
Visit Elaina Smith at Secure Bancard: https://securebancard.com/
As always find The Payments Experts Podcast:
https://www.globallegallawfirm.com/podcasts/

A payments podcast of Global Legal Law Firm

Chapters

1. Discussion on Payment Processing and Fraud (00:00:00)

2. Understanding Risks and Merchant Education (00:05:21)

3. Education and Challenges in Payment Processing (00:13:50)

4. Challenges in Payment Processing and Risk (00:21:07)

5. Technology and Risk Management in Payments (00:33:34)

6. Identity Theft and Match List Detection (00:39:10)