[October 13, 2017] |
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Ethoca Wins Top Spot in Innovative Online Solutions Category at the Fraud Awards 2017
Ethoca, the industry standard for collaboration-based technology
solutions that help card issuers and online merchants increase card
acceptance and stop ecommerce fraud and disputes, today announced that
it has won the award for most Innovative Online Solution at Retail
Risk's Fraud Awards 2017.
The judges, including loss prevention experts from Amazon, JD Sports and
KPMG, received a record number of entries and selected Ethoca as the
leader in this category. The winners were announced at a gala dinner on
5 October at the home of former English Premier League Champions,
Leicester City.
"It's an honour to be recognised for our achievements in fighting fraud
and reducing chargebacks for merchants and issuers around the globe,"
said Keith Briscoe, Chief Marketing Officer, Ethoca. "Fraud and
chargebacks add friction to the entire ecommerce ecosystem - driving up
costs, damaging the customer experience and reducing transaction
acceptance. Ethoca Alerts tackles these problems so merchants and
issuers can focus on what matters most - creating a frictionless payment
experience for their customers. Next in our sights is solving the
rampant friendly fraud/false claims problem, and recovering the billions
lost every year to alse declines. These solutions are currently in
pilot with our card issuer and merchant customers."
These awards recognise the performance of Ethoca Alerts - a faster, more
cost-effective and customer friendly alternative to the chargeback
process. It provides an early warning on fraud and disputes that have
already been confirmed between cardholders and their issuing bank,
giving merchants the opportunity to stop fraud, halt the delivery of
goods and services, and refund cardholders to avoid impending
chargebacks. Card issuers who use the service benefit by avoiding
chargeback processing costs and recovering fraud losses - including 3D
Secure and low-value transaction write-offs - much more quickly and
inexpensively than ever before.
Ethoca can now add the Retail Fraud Awards to its growing list of
accolades in 2017. In February, Ethoca won the 2017 Card & Payments
Award for Best Technology Initiative (in partnership with Accertify). In
March, Ethoca won up the PayFORUM Grand Prix Award and the PayFORUM
Security Award as well as the Overall Winner and Security Strategy
honours at the FStech Awards.
About Ethoca Ethoca is the leading, global provider of
collaboration-based technology that enables card issuers, ecommerce
merchants and online businesses to increase card acceptance, stop more
fraud, recover lost revenue and eliminate chargebacks from both fraud
and customer service disputes. Through the Ethoca Network - the first
and only of its kind in the industry - we are closing the information
gap between card issuers and merchants. This unique capability makes
fraud and customer dispute insight available and actionable in real
time. Our suite of services delivers significant revenue growth and cost
saving opportunities to more than 5400 merchants in 40+ countries and
more than 570 card issuers in 20+ countries. Seven of the top ten
ecommerce brands, 14 of the top 20 North American card issuers, and two
of the top five UK card issuers rely on Ethoca solutions and the network
that powers them.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171013005089/en/
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