Toss Payments (CEO Im Han-wook), an electronic payment agency of Viva Republica (Toss), announced on the 23rd that it has fully introduced an integrated risk management system (RMS), becoming the first in the PG industry to automate the entire process of merchant review and monitoring.
With the introduction of this RMS, Toss Payments has established an automated review environment capable of identifying, analyzing, and responding to various risk factors in real time, surpassing the limitations of manual-based merchant reviews. In particular, the ability to respond consistently to changes in the status of merchants or complex risk factors has significantly improved the accuracy and efficiency of the review process. A reduction in review duration is also expected. Toss Payments is the first in the PG industry to implement an RMS.
The Toss Payments RMS is a modular system that integrates all stages from pre-detection to automatic decision-making and post-action processing within a single engine. It evaluates the credit and liquidity of new merchants by comprehensively analyzing various data, including sales and arrears information, and automatically grades risk levels by industry sector. Based on standardized policy criteria, the settlement cycle and collateral conditions for new merchants are also automatically set.
The RMS also monitors key indicators such as sales, refund rates, and complaint rates in real time for existing merchants, allowing proactive responses by sending automatic alerts in the event of abnormal signs. Data are automatically accumulated to continuously enhance review and monitoring policies, while high-risk cases requiring expert judgment are categorized separately for in-depth analysis. The structure also allows for flexible responses to exceptional situations.
A representative of Toss Payments noted, "While our risk management system is already recognized as among the best in the industry, our goal with the introduction of this RMS is to reduce the occurrence of abnormal transactions to nearly 0%." He added, "Based on our data-driven rapid and precise risk response capabilities, we will provide a safer payment environment for both merchants and consumers."