TSYS Partners with Ethoca for Fraud and Chargeback Reduction
Feb. 29, 2016
Columbus Ga.-based acquirer and payment processor TSYS announced it has partnered with antifraud technology provider Ethoca to launch a service that will leverage information from issuing banks to send alerts to online merchants that will identify fraud and reduce chargebacks. Toronto-based Ethoca partners with a network of credit-card issuers who share information about confirmed fraud. TSYS merchants with access to this information through its new Transaction Recovery Network now can work with customers on disputes before they turn into chargebacks.
“With the continued growth of e-commerce payments and the anticipated rise in card-not-present fraud, efficient collaboration between issuing banks and merchants is crucial to help mitigate risk and improve the cardholder experience,” said Andrew Mathieson, group executive at TSYS. “The TSYS Transaction Recovery Network enables a collaborative efficiency that reduces online fraud and operational expenses associated with chargebacks.”