To protect both merchants and customers, Worldpay for Platforms reviews unusually large or atypical transactions. This helps prevent fraud, enables merchants to deliver on their commitments, and ensures compliance with financial regulations.
A review might be conducted in cases involving transactions such as the following:
Transactions over $100,000.
Any transaction or volume much higher than your normal activity.
Transactions that appear suspicious or unusual.
Worldpay may also review lower-value transactions if they are outside your typical processing patterns.
What Is Reviewed?
The Worldpay Risk and Compliance team considers many factors when reviewing transactions, including the following information:
Fraud risk: Determines if the transaction legitimate.
Fulfillment: Determines whether the merchant can deliver the product or service.
Financial support: Determines whether the merchant is able to cover possible chargebacks or returns.
Compliance: Determines any risks of money laundering, payment network violations, or other regulatory concerns.
What Information Might Be Requested?
In order to conduct a thorough review, extra information might be requested from the merchant to verify the transaction’s legitimacy. Extra information could include details such as the following:
Transaction details: Information related to the transaction, such as invoices, contracts, work orders, or buyer contact information.
Processing history: Details about your history with Worldpay or our partners.
Third-party approvals: Approvals from any other parties involved.
Supplier documentation: Proof from the supplier that the order can be fulfilled.
Proof of shipping or delivery: Proof that the item or items were shipped and delivered.
Buyer’s proof of funds: Documentation that proves the buyer has enough funds to cover the cost of the transaction, such as a bank guarantee.
Buyer identification: Documentation that proves the identity of the buyer, such as a state-issued ID or passport.
Merchant financials: Documentation that verifies the merchant financials, such as cash flow or bank statements.
Business information: Documentation that verifies the legitimacy of the business, such as incorporation documents, a business license, or a certification from the Secretary of State.
Compliance details: Documentation that verifies compliance with financial regulations, such as enrollment in anti-money laundering (AML) programs, licenses, or third-party verification.
High-Dollar Transaction Review Process
The high-dollar transaction review process follows a series of steps designed to ensure accuracy and timely resolution:
Initial Review: A Transaction Risk Analyst reviews the transaction and account.
Request for Information: If needed, supporting documents are requested.
Escalation: If the review is not resolved within one business day, the review is escalated for prompt attention, even if all documents have not been received.
Investigation: After all documents are received, the team determines whether the transaction can be approved.
Unapproved Transaction Next Steps
If a transaction can’t be approved, the team will notify you and your payment partner of additional steps or options, which may include the following:
Holding funds: Card transactions may be held up to 180 days and ACH transactions may be held up to 90 days. ACH funds are held at least 10 days for non-sufficient funds returns.
Refunding the transaction: The transaction may be refunded.
Canceling the transaction: If it has not settled yet, the transaction may be canceled.
Important!
Hold times depend on risk level and the timeframes during which customers can dispute charges.
Review Process Best Practices
To help ensure a smooth review process and reduce the risk of delays or issues, merchants are encouraged to follow these best practices:
Respond promptly to requests for documentation.
Reach out to your Worldpay representative with any questions.
Be prepared for additional review if you process unusually large or atypical transactions.
Provide the Risk and Compliance team with a high-dollar transaction invoice to help facilitate payment approval.