{"id":6255,"date":"2022-01-27T11:38:39","date_gmt":"2022-01-27T11:38:39","guid":{"rendered":"https:\/\/etrendsnews.com\/?p=6255"},"modified":"2022-01-27T11:38:39","modified_gmt":"2022-01-27T11:38:39","slug":"the-importance-of-high-value-payment-monitoring","status":"publish","type":"post","link":"https:\/\/etrendsnews.com\/2022\/01\/27\/the-importance-of-high-value-payment-monitoring\/","title":{"rendered":"The Importance of High-Value Payment Monitoring"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"font-weight: 400\">High-value payment monitoring is essential for any business that trades in significant amounts. But what counts as a high-value transaction, and what\u2019s the best way to monitor these payments?<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">We\u2019ll answer these questions and more in this article.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-662b40d18c6f7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-662b40d18c6f7\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/etrendsnews.com\/2022\/01\/27\/the-importance-of-high-value-payment-monitoring\/#What_is_a_High-Value_Transaction\" title=\"What is a High-Value Transaction?\">What is a High-Value Transaction?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/etrendsnews.com\/2022\/01\/27\/the-importance-of-high-value-payment-monitoring\/#What_are_the_Benefits_of_Monitoring_High-Value_Payments\" title=\"What are the Benefits of Monitoring High-Value Payments?\">What are the Benefits of Monitoring High-Value Payments?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/etrendsnews.com\/2022\/01\/27\/the-importance-of-high-value-payment-monitoring\/#How_to_Monitor_High-Value_Payments\" title=\"How to Monitor High-Value Payments\">How to Monitor High-Value Payments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/etrendsnews.com\/2022\/01\/27\/the-importance-of-high-value-payment-monitoring\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h3 style=\"text-align: justify\"><span class=\"ez-toc-section\" id=\"What_is_a_High-Value_Transaction\"><\/span><b>What is a High-Value Transaction?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">A high-value transaction is defined as any transaction that has a value significantly higher than average. For some businesses, this value could be $5,000 and above, and for others, it could be $50,000 and above or more.\u00a0<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">There are multiple ways to define what constitutes a high-value transaction. One way is to use the median of all transactions in your system as a baseline indicator, and consider anything larger than this number \u2018high-value\u2019. Another way would be to use the 75th percentile of all transactions in your system as an indicator of what constitutes a high-value payment.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">There are many different types of high-value transactions. These include:<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">&#8211; High-risk transactions\u2014where the risk of fraud is greater than average,<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">&#8211; Large cash transactions\u2014where cash payments are larger than average,<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">&#8211; Transactions with significant financial impact\u2014where, for example, a high-value payment goes to an account that has been blocked due to suspicious activity.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">There are many ways in which you can monitor your high-value transactions and payments. The two most common approaches are:<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">1) You can use a service provider to do this for you.\u00a0<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">2) You can do it yourself by using the bank\u2019s internet banking and mobile banking apps and monitoring your accounts.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">In the next section of this article, we\u2019ll discuss why monitoring <\/span><a href=\"https:\/\/www.ir.com\/products\/transact\/high-value-payments\"><span style=\"font-weight: 400\">high-value payments<\/span><\/a><span style=\"font-weight: 400\">\u2014especially through a service or software provider\u2014is critical for any business.\u00a0\u00a0<\/span><\/p>\n<h3 style=\"text-align: justify\"><span class=\"ez-toc-section\" id=\"What_are_the_Benefits_of_Monitoring_High-Value_Payments\"><\/span><b>What are the Benefits of Monitoring High-Value Payments?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">When you\u2019re dealing with high-value transactions, the risk of fraud is higher\u2014and the repercussions of failing to identify fraud are increased tenfold. In the same way, when making high-value payments to another party, you\u2019ll want to be 100% sure it\u2019s going to the right account.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">That\u2019s where high-value payment monitoring comes in. This critical process is essential for staying on top of valuable transactions and making sure everything runs smoothly.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Among other benefits, high-value payment monitoring can:<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Protect your business from fraud,<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Help you spot inconsistencies in your company\u2019s financial records,<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Notify you when suspicious <a href=\"https:\/\/etrendsnews.com\/2021\/05\/12\/games-inbox-will-battlefield-6-have-microtransactions\/\">transactions<\/a> occur,<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Ensure payments go into the right accounts,<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Improve cash flow and prevent financial losses.<\/span><\/li>\n<\/ul>\n<h3 style=\"text-align: justify\"><span class=\"ez-toc-section\" id=\"How_to_Monitor_High-Value_Payments\"><\/span><b>How to Monitor High-Value Payments<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">The best way to implement high-value payment monitoring within your business is to use an automated suite of tools designed specifically for this purpose. By investing in high-value payment software, you can deliver a seamless payment experience for customers and stakeholders while:<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Streamlining operations,<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Reducing delivery costs,<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Accessing real-time transaction data,<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Receiving automated alerts about suspicious transactions.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Essentially, high-value payment monitoring is the best way to stay in control of your transactions and maintain a secure, trustworthy business.<\/span><\/p>\n<h3 style=\"text-align: justify\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><b>Conclusion<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Overall, high-value payment monitoring is the best way to protect your business from <a href=\"https:\/\/en.wikipedia.org\/wiki\/Fraud\">fraud<\/a> and financial losses while streamlining transactions. And with the right software, you can do it all from one place.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>High-value payment monitoring is essential for any business that trades in significant amounts. But what counts as a high-value transaction, and what\u2019s the best way to monitor these payments? We\u2019ll answer these questions and more in this article. What is a High-Value Transaction? A high-value transaction is defined as any transaction that has a value [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":6256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[158],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Importance of High-Value Payment Monitoring<\/title>\n<meta name=\"description\" content=\"High-value payment monitoring is the best way to protect your business from fraud and financial losses while streamlining transactions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/etrendsnews.com\/2022\/01\/27\/the-importance-of-high-value-payment-monitoring\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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