U.S. Payments Landscape and Compliance - Its Significant Changes and How it Affects Merchants Accepting Payments
Wednesday, 30 January 2019 10:00 AM PST, 01:00 PM EST
Training Duration = 90 min Sponsored by Online Compliance Panel
This webinar will provide an update of the payments landscape and discuss the current changes in the marketplace, including updates to general purpose prepaid card programs, virtual currencies, due diligence of your customers and identification of beneficiary owners.
In addition, the course will expose the new faces of AML and examine how merchants and MSBs can be unintended victims of money laundering and illicit activities.
Why Should You Attend:
As merchant card services become more of a commodity, speedy, client-focused onboarding has become a strategic differentiator. The acquirer must ensure the merchant is compliant with KYC and BSA/AML regulations; determine credit worthiness and finally complete the activation process.
Software disruptors like Square and PayPal who have entered the acquirer space know this, and are using automation to reduce the merchant onboarding process to minutes. However, failing to comply with KYC and other regulations can result in severe fines, while improperly determining a merchant's credit worthiness increases the risk of losses.
Armen Khachadourian is the founder and president of Digital Payments Inc, a consulting firm providing advisory services in the areas of merchant processing, ISO/MSP formation, development of best practices, BSA/AML guidelines, merchant portfolio and acquiring acquisitions, prepaid and alternative payment products including decoupled debit.
As a trusted partner with vision to understand his client's future business he has helped design and evaluate new products and services in today's changing marketplace.
As a senior vice president at Visa USA, he expanded card acceptance to new markets such as supermarkets, recurring payments, quick service restaurants and federal government agencies. His expertise in card products extends to issuance of credit, debit, prepaid and commercial cards.
He is also an experienced manager of technology solutions including development of best practices, network policy, third-party processor contract negotiation and problem resolution.
He was awarded an honorary teaching credential from State of California. He is a member of the United States National Masters team and has represented United States at four world championships.