Mastercard Set to Buy Ethoca - Card Issuers News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Card Issuers » Mastercard Set to Buy Ethoca

Mastercard Set to Buy Ethoca

Mastercard Set to Buy Ethoca
March
20
The content is accurate at the time of publication and is subject to change.

Credit Card security is something that everyone is mindful of these days, and in keeping with this theme, Mastercard is set to buy Ethoca, a company that specializes in helping both retailers and card issuers detect and resolve digital commerce fraud.

There is a full suite of products in the Ethoca digital arsenal all designed to give their customers more protection in the digital arena. Mastercard will be leveraging their abilities in this area and combining it with their already existing security protocols. In turn, this also gives consumers an additional layer of security when using their Mastercard. “Advancements in technology are enabling us to transform the experience for our customers,” said Ajay Bhalla, president of cyber and intelligence solutions for Mastercard.

“Ethoca is a strong addition to our multilayered cyber strategy, helping customers take immediate action against fraud and eliminate chargebacks before they can occur. In turn, consumers are provided with a better checkout experience every time they shop at a participating site,” he added.

Fraud costs consumers and retailers

Mastercard points to data mined by Juniper Research indicating that retailers may well lose $130 billion due to fraud taking place online over the coming five years.

On the other hand, heightened security can result in false declines that cost retailers money and try consumer’s patience. With research from Aite Group suggesting that false declines actually cost this sector $331 billion dollars last year.

Helping protect the digital realm

Ethoca currently works with over 5,000 retailers and 4,000 financial institutions around the globe helping them combat and deal with digital fraud. Once a fraudulent transaction is flagged they contact the retailer in almost real time to let them know what has happened and giving them the chance to verify the transaction.

Once fraud is confirmed they can put a stop on the delivery of the item or actually reverse the transaction. This lets them circumvent the chargeback process. This way the retailer and issue can reduce their costs in this area.

“Mastercard is a natural home for Ethoca,” said Andre Edelbrock, CEO of Ethoca. “For more than a decade, we’ve connected e-commerce businesses with banks to make the payments system simpler and more secure. We are excited to have the opportunity to bring our services to more places and people, ultimately contributing to the best possible online payment experience.”

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Mastercard's New True Name Card is Game Changer
Mastercard's New True Name Card is Game Changer

Posted: July 04, 2019

It’s gay pride month and in keeping with this theme Mastercard will be rolling out the new True Name card, which lets people who are non-binary and/or transgender have their chosen name on their card rather than having to use the name they… Continue reading

New Pay with Points Feature for ThankYou Cardholders
New Pay with Points Feature for ThankYou Cardholders

Posted: July 05, 2019

Citi ThankYou cardholders will soon have a new feature to check out, one letting them actually redeem their points in real time after making a purchase. How does it work? When they make a purchase they will get an alert that lets them know… Continue reading

Fareback Fridays From Mastercard Is Returns This Summer
Fareback Fridays From Mastercard Is Returns This Summer

Posted: June 07, 2019

Commuting can get expensive but this summer in NYC summer Fridays means more than days off and a casual workday, for Mastercard cardholders it means commuting, as long as they use one of the new tap and pay terminals going live in the New… Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
The Citi Rewards+℠ Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap.
For Excellent, Good Credit
Earn unlimited 1.5% cash rewards on all purchases.
For Good, Excellent Credit
See Rates & Fees
Perfect credit not required for approval; we may approve you when others won’t
For Fair/Bad Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!