Patent Pending: Payment21®’s Mitigation Algorithm™

Benefit from business rules, velocity limits and behavior monitoringOnly recently the Untited States Patent and Trademark Office has accepted our application for filing a patent on Payment21®’s proprietary Mitigation Algorithm™. This state-of-the-art fraud prevention tool is patent pending now.

Using a multitude of screening techniques simultaneously - previously unheard of within the industry - is at the center of Payment21®’s fraud prevention services. We offer one of the most comprehensive check verification systems available today. Our customizable Verification Loop™ in collaboration with our proprietary Mitigation Algorithm™ (patent pending) is able to determine if a check is drawn against an account that is currently closed, overdrawn or frozen. Our fraud prevention process is even able to determine the likelihood of whether or not a check will be returned. Payment21® allows your business to accept online check payments with confidence.

Our proprietary Mitigation Algorithm™  is controlled by our customizable Verification Loop™ using various business rules and velocity limits that mitigate abuse and fraud. Our proprietary Mitigation Algorithm™ (patent pending) can be adjusted to your industry specific preferences in order to reflect various business rules and customers’ check-writing habits. This state of the art fraud protection solution monitors and rejects transactions from known fraudulent or abusive users before the Instant eCheck™ reaches the payment system thereby saving you money in processing and returned transaction costs. For every Instant eCheck™, our proprietary Mitigation Algorithm™ (patent pending) uses up to 10 different databases that can rigorously apply customized business rules & velocity limits specific to each merchant. We can tailor-make your business rule settings which set limits for number of wait days on the first check, minimum deposit amount of a check, maximum deposit amount of a check and maximum increase on amount from last check. For velocity limits, we can adjust the number of checks that a customer can submit to our system in the intervals of 8 hours, 16 hours, 24 hours, 48 hours, 3 days, 7 days, 30 days and 90 days. For each time interval option, our proprietary Mitigation Algorithm (pat. pending) allows you to set the maximum total allowable amount on all submitted checks.

Payment21® is a registred trademark. Our brand got approved by the World Intellectual Property Organization (WIPO) in July 2011.

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