June 13, 2017
Two companies that seek to provide fraud intelligence from issuers to card-not-present merchants in an effort to resolve disputes before they become chargebacks each made announcements on the same day last week. Toronto-based Ethoca unveiled a partnership with credit union service organization PSCU under which its credit unions will alert Ethoca’s merchants to cases of confirmed fraud. PSCU represents more than 850 credit unions in the U.S. that will be added to Ethoca’s issuer network.
“Our partnership with PSCU means that not only will their hundreds of credit union Member-Owners benefit from the value of the Ethoca collaboration network, but so also will our thousands of other issuer and merchant participants,” said Jason Howard, executive vice president of sales at Ethoca. “As our network continues to grow and merchant adoption increases globally, PSCU is poised to get even more value from the Ethoca Alerts service in the future.”
Separately, Los Angeles-based Verifi said it has agreed with MegaCharge to add the U.K. payments processor’s merchant clients to its Cardholder Dispute Resolution Network where they will be able to benefit from near-real-time notification of fraud from their network of issuers.
“We began yielding results shortly after implementation, enabling us to provide improved and immediate benefits to our merchant clients,” said Michelle Molloy, CEO for MegaCharge. “CDRN enables us to identify true fraud and non-fraud chargebacks risks and reduce expenses caused by relying on dated sources like TC40 data or other chargeback mitigation solutions that don’t provide CDRN’s quality and accuracy.”