Led by ground-breaking Eliminator solution, the suite provides a three-layer defence from genuine fraud, friendly fraud and customer disputes, while creating a better experience for customers
TORONTO & AUSTIN, Texas & LONDON, March 15 (Bernama-BUSINESS WIRE) -- Ethoca, the industry standard for collaboration-based technology solutions that enable card issuers and online merchants to increase card acceptance and stop ecommerce fraud and disputes, today announced the launch of its new Integrated Solution Suite. When adopted at full scale across the industry, Ethoca’s suite of products – including Ethoca Eliminator, Ethoca Alerts and Enhanced Representments – can mitigate up to 90% of chargebacks from genuine fraud, friendly (or first-party) fraud and false claims. Even more importantly, it sets the stage for increased card acceptance across the ecosystem.
Today’s ecommerce ecosystem is plagued by a raft of issues that increase friction in the purchase process and create a negative experience for customers. With friendly fraud (whether innocent or hostile) and false claims now reaching 90% of all fraud volumes in sectors like digital goods, card issuers, merchants and customers are all facing a downward spiral of disputes that are having a significant impact on card acceptance. Industry estimates suggest that ‘false declines’ – when good customers are falsely declined due to the risk of fraud – are continuing to increase: for every $1 in confirmed fraud, $13 in legitimate transactions are falsely rejected. Customers experiencing a false decline will elect to abandon purchases at trusted ecommerce web sites, pull out a different payment card or, in 39% of cases, potentially abandon the purchase altogether.¹
TORONTO & AUSTIN, Texas & LONDON, March 15 (Bernama-BUSINESS WIRE) -- Ethoca, the industry standard for collaboration-based technology solutions that enable card issuers and online merchants to increase card acceptance and stop ecommerce fraud and disputes, today announced the launch of its new Integrated Solution Suite. When adopted at full scale across the industry, Ethoca’s suite of products – including Ethoca Eliminator, Ethoca Alerts and Enhanced Representments – can mitigate up to 90% of chargebacks from genuine fraud, friendly (or first-party) fraud and false claims. Even more importantly, it sets the stage for increased card acceptance across the ecosystem.
Today’s ecommerce ecosystem is plagued by a raft of issues that increase friction in the purchase process and create a negative experience for customers. With friendly fraud (whether innocent or hostile) and false claims now reaching 90% of all fraud volumes in sectors like digital goods, card issuers, merchants and customers are all facing a downward spiral of disputes that are having a significant impact on card acceptance. Industry estimates suggest that ‘false declines’ – when good customers are falsely declined due to the risk of fraud – are continuing to increase: for every $1 in confirmed fraud, $13 in legitimate transactions are falsely rejected. Customers experiencing a false decline will elect to abandon purchases at trusted ecommerce web sites, pull out a different payment card or, in 39% of cases, potentially abandon the purchase altogether.¹
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