What do you get when credit card issuers and etailers collaborate?

A lot of frustrated fraudsters.

Cybergangs count on gaps in information between parties in the payments chain in order to commit fraud. In particular, when a card issuer's fraud detection screens identify a suspicious spending pattern on a card, and fraud staff then call the consumer to confirm whether purchases were legitimate, the normal administrative process often means that it is too late to communicate to the merchant, and they don't find out there was a problem until a chargeback is issued. Fraudsters exploit this "latency gap" to get away with more stolen goods.

Now collaboration is closing that gap. Some of the biggest names in card issuing and retailing trust Ethoca to securely gather and route intelligence about cancelled or compromised credit cards -- coordinating nearly in real time to catch more fraudulently purchased good and services before they're delivered.

Benefits of issuer-merchant collaboration