What is Sanctions Screening?
Sanctions screening is the process of checking customers, counterparties, and transactions against government-maintained lists of sanctioned individuals, entities, and countries to ensure compliance with international sanctions regimes.
Overview
Sanctions screening is the process of checking customers, counterparties, and transactions against government-maintained lists of sanctioned individuals, entities, and countries to ensure compliance with international sanctions regimes.
How It Works
Sanctions Screening is an important concept in modern payment processing. Understanding it helps businesses choose the right payment methods and technologies for their customers.
Relevance to Phone Payments
While sanctions screening may primarily relate to other payment channels, businesses that accept payments across multiple channels — including phone — benefit from understanding how different payment methods complement each other.
Paytia's platform supports businesses across multiple payment channels. For phone payments specifically, Paytia's secure platform complements sanctions screening by covering the voice channel where customers prefer to pay by phone.
Frequently Asked Questions
What is sanctions screening?
Sanctions screening is the process of checking customers, counterparties, and transactions against government-maintained lists of sanctioned individuals, entities, and countries to ensure compliance with international sanctions regimes.
How does sanctions screening work with phone payments?
While sanctions screening primarily operates in other channels, businesses that also take phone payments can use Paytia to cover the voice channel securely.
Is sanctions screening PCI DSS compliant?
Any payment method that handles card data must comply with PCI DSS. The specific requirements depend on how the data is captured, transmitted, and stored.
Related Terms
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