CNP Expo Sponsor Snapshot: Ethoca
April 27, 2015
All fraud tools have their limitations, that’s no secret. It’s inevitable that some fraud will slip through a merchant’s defenses. That doesn’t just mean increased fraud losses and more chargebacks. It means less acceptance (more card-issuer declines) and relationships damaged by an outdated—and completely unnecessary—dispute process.
The typical fraud discovery and chargeback management process prevents online merchants from being able to take the immediate action necessary to stop card-not-present fraud loss and avoid costly chargeback fees. By the time they’re notified, up to six weeks may have passed and the opportunity to take action is gone.
Short-circuiting this lengthy process is one of the main benefits of Ethoca Alerts. This service leverages the global reach of Ethoca’s card issuer-merchant collaboration network and notifies merchants of fraud already confirmed between the bank and the cardholder. It gives merchants a window of opportunity to stop the fulfillment of fraudulent orders and eliminate chargebacks at the source. Ethoca also provides a service called Order Rescue, allowing merchants to recover orders that otherwise would have been rejected (due to false positives generated by fraud prevention systems) and turn them into revenue. These orders are investigated by participating card issuers that confirm whether these are, in fact, fraudulent purchases. If they are confirmed to be good orders, merchants can take immediate action to rescue them, avoid costly customer insults and prevent damage to their brand.
“What sets us apart from others is the power of our Ethoca collaboration network. This unique platform connects more issuers and merchants worldwide than any other and powers our Ethoca Alert and Order Rescue services,” said Keith Briscoe, chief marketing officer at Ethoca. “Every day the value of this network grows as more issuers and merchants participate and more confirmed fraud and customer dispute data flows between the two parties.”
Ethoca’s network consists of more than 2,100 merchants across five continents, including top global digital goods and airlines and 27 card issuers globally, including seven of the top nine U.S. issuers and seven U.K. issuers.
As the official Anti-Fraud Sponsor at the 2015 CNP Expo, Ethoca is looking forward to “the excellent opportunity for us to talk directly with a wide range of online merchants across multiple categories and discuss how we can assist them with their unique fraud mitigation needs,” Briscoe said. In addition to this sponsorship, Ethoca was the recipient of the Judges’ Choice for “Best Chargeback Management Solution” at the 2014 CNP Awards and has been nominated for awards in two categories this year as well. If you are interested in learning more about Ethoca or would like to schedule an in-person meeting while attending the Expo, you can e-mail firstname.lastname@example.org .