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May 2, 2014updated 04 Apr 2017 4:07pm

IdentityMind Global, IDMPay merge to offer high-risk merchant payment services

IdentityMind Global, a risk management and anti-fraud services provider, is merging executive management and leadership of its payment service subsidiary IDMPay with the parent company.

By Verdict Staff

IdentityMind Global, a risk management and anti-fraud services provider, is merging executive management and leadership of its payment service subsidiary IDMPay with the parent company.

The company claimed that the leadership reorganization is aimed at simplifying the integration of risk management technology into payments operations and will continue offering the IdentityMind anti-fraud and risk management platform under its IDMRisk product division, while offering payment services under its IDMPay division.

The merger follows the recent launch of IDMPay as an individual payment service provider based on the IdentityMind anti-fraud and risk management platform.

IdentityMind Global CEO and president, Garrett Gafke said that success in payments requires diligent management of the risk associated with merchant account underwriting, and monitoring operations to detect early signs of risk- particularly in high risk markets.

"Our core technology, eDNA, enables IDMPay to safely offer merchant accounts to higher risk merchants while immediately providing them with a fully integrated anti-fraud service," added Gafke.

IdentityMind Global investor company Noosphere Ventures president, Mark Watt, said: "We are in full agreement with IdentityMind Global and the executive team’s decision to unify leadership across payments and risk."

Meanwhile, the company announced that the current IdentityMind and IDMPay customers will be automatically reassigned under IdentityMind Global, without any alteration to contract or customer service.

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