Risk Management

Risk Management is a critical aspect of any payment processing platform, especially in the context of online Marketplaces and Non-Marketplaces.

There are two primary reasons for implementing robust risk management strategies:

1. Fraud Prevention: Secure customer PII (Personally Identifiable Information) and payment data to prevent unauthorized transactions and protect against fraud.
2. Regulatory Compliance: Adhere to legal and regulatory requirements, such as KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations, to ensure the integrity of the payment ecosystem.

Ryft maintains its own fraud prevention controls to protect its payment processing systems and infrastructure. These do not extend to fraud prevention on behalf of any Marketplace, Non-Marketplace, or other third party integrating with Ryft. Each merchant is responsible for implementing its own fraud prevention measures suited to its business model, customers, and risk profile, and should not rely on Ryft's internal controls as a substitute.

More broadly, Ryft's risk management covers the integrity and security of the payment processing service itself; risk arising from a merchant's own operations, customers, and transactions remains with the merchant.

Given how quickly fraud tactics and regulations evolve, merchants are encouraged to maintain their own risk management function - or work with a specialist provider suited to their needs - to satisfy their legal obligations, secure their customer payments, protect their reputation, and reduce exposure to non-compliance fines.

Ryft's role is limited to the security and compliance of its own platform.