Transaction monitoring

Learn about how and why payment transaction monitoring is done.

Updated over a week ago

The digital landscape offers immense opportunities for businesses, but it also brings inherent risks, especially when it comes to online payments. As a Mamo customer, understanding how and why Mamo does transaction monitoring is crucial for safeguarding your business, your customers, and your reputation and ensuring the continuity of your payment collection operations.

What is considered acceptable documentation?

Although this differs on a case by case basis, here are a few general rules of thumb:

  • Documents must be dated, include the customer's name

  • Documents must show the customer requesting the product or service

  • Documents must show exactly what is being sold to the customer

  • Documents must show the customer confirming receipt of the product or service

  • Documents must be clear and legible at all times

Our team is highly trained to guide you on what strong documentation looks like. They will ask you detailed questions to give your business the highest chance at avoiding losses. We highly appreciate your patience throughout this process.

Why does Mamo monitor transactions?

As a regulated financial institution that deals with thousands of financial transactions every day, we are required by law to conduct various checks on all transactions. These checks are designed to ensure the safety and security of your business and your customers.

Why does Mamo request documentation behind some transactions?

As your trusted payment processing partner, Mamo has a responsibility to ensure that any and all financial transactions processed on your behalf are safe, secure and protected against future dispute risks.

To meet our responsibilities to you, we may request various documents to help justify and document some payments. This includes but is not limited to:

  • Communication records: Records of communication between you and the customer requesting the product or service you're selling.

  • Delivery confirmations: Proof that the service was delivered after payment.

  • Business licenses or permits: Copies of any licenses you may require to sell products and services in high-risk industries.

  • Explanations for unusual activity: Explanations for unusual patterns across transactions or changes in business operations.

Why is this important?

  • These documented records help us protect you from fraudulent payments, which have a very high risk of being disputed by the actual cardholder in the future. If we do not address this risk and collect documented records from you ahead of time, both you and Mamo are exposed to dispute risk and hefty financial losses.

  • These documented records also help us protect you from cases where your customers did use their own cards legitimately, but dispute the delivery of the product or service you promised. Documentation helps us quickly defend the dispute when it is filed and protect your business against the financial losses arising from your customer's bank ruling in their favor in such cases.

I've been with Mamo for a long time, why am I only being asked for documents now?

Firstly, we totally appreciate your trust and your business. So thank you! Although we can't disclose how we pick individual transactions to monitor, we do have an obligation to do regular and ongoing monitoring on all transactions. Risk comes in all shapes and sizes, from all angles, and at any time in this industry. And it's our promise to protect you. The length of time you have been with us rarely has an influence on how we run our monitoring programs.

Why does Mamo withhold my settlements?

Generally speaking, funds can be withheld for a few reasons:

We are required by local law and by regulatory policies to place a brief and temporary hold on your settlements until you provide us with the necessary documentation behind any flagged transactions.

It is also important to highlight that our terms and conditions are very transparent on this, and that Mamo does not withhold settlements in any manner that contradicts the terms and conditions you agreed to when registering for an account.

Rest assured that, once we’ve received the required documentation and are satisfied with its accuracy and authenticity, we will immediately release the hold on your settlements.

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