Mastercard BRAM and Visa VIRP Compliance Program

Online Payment Gateway Provider • Financial Technology • 7 months

Project Objective

Implement comprehensive compliance program addressing Mastercard Business Risk Assessment and Mitigation (BRAM) and Visa Integrity Risk Program (VIRP) requirements, integrated with existing PCI DSS compliance framework.

Methodologies & Approach
  • •Comprehensive assessment of current merchant onboarding and monitoring processes
  • •Gap analysis against BRAM and VIRP requirements
  • •Development of enhanced due diligence procedures for high-risk merchants
  • •Implementation of transaction monitoring system for detecting suspicious activities
  • •Creation of merchant risk scoring methodology
  • •Development of compliance reporting framework for card brand requirements
  • •Integration with existing PCI DSS compliance program
Tools & Technologies
Mastercard BRAM documentationVisa VIRP requirementsTransaction monitoring systemRisk scoring algorithmMerchant onboarding platformCompliance management system
Outcomes & Results
  • •Developed comprehensive merchant risk assessment methodology covering 15+ risk factors
  • •Implemented enhanced due diligence process for high-risk merchants, reducing onboarding of prohibited merchants by 100%
  • •Deployed transaction monitoring system capable of identifying suspicious patterns with 92% accuracy
  • •Reduced false positives in transaction monitoring by 65% through refined rule sets
  • •Created integrated compliance dashboard covering PCI DSS, BRAM, and VIRP requirements
  • •Successfully passed Mastercard and Visa compliance reviews with zero findings
  • •Reduced compliance-related chargebacks by 78% within 6 months of implementation
Key Insights & Lessons Learned
  • •Early stakeholder engagement is critical for successful PCI DSS initiatives to ensure buy-in and alignment with business objectives.
  • •A risk-based approach to implementation allows for more efficient resource allocation and prioritization of activities.
  • •Clear documentation and evidence collection processes are essential for successful PCI DSS assessments.
  • •Integration with existing business processes is essential for sustainable compliance programs.
  • •Continuous monitoring and testing are key to maintaining compliance between formal assessments.
PCI DSS Requirements Addressed

Requirement 1

Network Security

Requirement 2

System Configuration

Requirement 3

Data Protection

Requirement 4

Transmission Security

Requirement 5

Malware Protection

Requirement 6

Secure Development

Requirement 7

Access Control

Requirement 8

Authentication

Requirement 9

Physical Security

Requirement 10

Logging & Monitoring

Requirement 11

Security Testing

Requirement 12

Security Policy

Project Details
Company:

Online Payment Gateway Provider

Financial Technology
Year:

2021

Duration:

7 months

PCI DSS Focus Areas
PCI DSS v4.0.1ComplianceSecurity ControlsAssessmentCard Brand Compliance
Related Projects
PCI DSS Compliance | IT Audit | GRC Consultant