BELLEVUE, Wash., May 18, 2017 /PRNewswire/ -- G2's Payment Laundering Detection has been named a 2017 Pay Awards winner in the Fraud Fighter category. The selection was made by a panel of payment industry experts assembled by Paybefore, a global publisher of news and analysis for prepaid, payments technology, commerce and loyalty sectors.
Payment Laundering Detection protects credit card networks and alternative payments methods, and is the most comprehensive suite of services available to catch laundering fraud. Using proprietary web surveillance and G2's Merchant Map™, which has tracked 60 million merchants and mapped trillions of data connections, Payment Laundering Detection provides a means of identifying and removing violators from your portfolio.
"Transaction laundering and payment laundering are growing rapidly," said Dan Frechtling, chief product officer at G2 Web Services. "Fraud perpetrators and fraud fighters are in an arms race. G2 clients win through data from the G2 Merchant Map™, applied data science and expert analysts to extract insights from data. G2 is honored to be recognized by the 2017 Pay Awards."
For 11 years, Pay Awards has conferred the most prestigious recognition of excellence in prepaid and payments technology worldwide. The awards are presented annually by Paybefore, read worldwide as a leading source of industry information for payments executives.
Payment Laundering Detection now will vie for Best-in-Category distinction, which will be announced in Pay News the week of June 12. Visitors to Paybefore.com will have a chance to vote on Best-in-Category through May 31. The outcome of this vote will be combined with the judges' picks to determine Best-in-Category honorees, all of which will be profiled in the Pay Magazine — Awards Issue.
About G2 Web Services: G2 Web Services is an information technology company using data, machine learning and expert analysts to help banks and processors ensure safer, more profitable commerce. G2 clients improve due diligence and monitoring so they can comply with changing rules of payment networks, government regulations and law enforcement, and grow their business portfolios. The G2 Merchant Map™ is the largest database of fraud and compliance risk history, comprising 60 million businesses and trillions of connections between data points. G2 proprietary data is augmented with third-party sources to better predict risk events.
Recently G2 won two awards in the PYMNTS.com Innovator Awards Series, and was named a Securing Payments Finalist by Mobile Money & Digital Payments, Winner of Best Fraud Prevention by Florin, and a "comprehensive solution" for onboarding and monitoring by Aite Group. www.g2webservices.com
About Paybefore: Paybefore is the leading information provider to prepaid, mobile and emerging payments industry professionals, offering the latest news, commentary and analysis. Paybefore's family of media properties includes: Paybefore.com; Pay News; Pay Gov; Pay Week; Pay Op-Ed; Pay Magazine and a global payments directory, Pay Connect available online. www.paybefore.com.
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SOURCE G2 Web Services