A consumer tenders a transaction card to a merchant to purchase a good or service. A merchant payment device, such as a payment terminal or mobile communication device, processes the payment utilizing a risk assessment system. Card data received by the payment device is sent to the risk assessment system, which processes card data and generates an indicator representing risk associated with accepting payment using the card. The indicator is sent to the payment device to provide the merchant input regarding risk associated with using the card (e.g., likelihood of fraud or chargeback) in a seamless manner. If the risk level is too high, the merchant may reject the card. The risk indicator may be based on different types of data from different sources, e.g., data from a first source related to the consumer's credit history and data from a second source related to the consumer's identity.