First Atlantic Commerce to Offer Ethoca Data Sharing Service to Global List of Customers
Posted on Wed, Jun 20, 2007 @ 06:00 AM
Leading Bermuda‐based payment solutions provider sees data sharing as the next evolution in fraud management
(PRNEWSWIRE) June 20, 2007 -- Ethoca Limited (Ethoca), the pioneer in data‐sharing fraud management for internet commerce and other customer‐not‐present environments, and First Atlantic Commerce Ltd (FAC), a leading internet multi‐currency, payment and fraud risk solutions provider, today announced that FAC has joined Ethoca’s Data Sharing Partner Program as an integrated provider of the Ethoca service. Ethoca provides shared data for businesses in internet commerce and other customer‐not‐present environments to help eradicate unwanted transactional activity.
Ethoca members are connected to a collective pool of member-provided customer transaction data, securely maintained to protect the privacy of both customers and members. Rather than seeing fraud management as an area for competition, companies see it as an area for cooperation.
FAC provides secure, real‐time multi currency, multi‐jurisdictional credit card processing solutions for global merchants through one single technical interface in addition to geomarketing services and fraud risk solutions including multi‐currency payer authentication solutions for Verified by Visa and MasterCard SecureCode™, AVS and CVV2/CVC2. Ethoca’s data sharing service will be immediately made available to FAC’s global list of e‐commerce customers, banks and processing partners.
“First Atlantic Commerce understands that by offering Ethoca’s data sharing service as part of their fraud management solution, it will help reduce fraud rates and increase the profitability of their global list of leading online merchants and partner banks,” said Andre Edelbrock, Ethoca’s President and CEO.
“Data sharing is the next step in fraud management, and Ethoca has the technology and rigorous compliance programs in place to help global businesses like First Atlantic Commerce and their customers reap the benefits of accurate and effective fraud management.”
FAC’s extensive global list of merchant customers and banks will benefit from the collective experiences and analyses of a broad number of businesses connecting to the Ethoca data sharing service. Expanding membership in Ethoca provides businesses with greater access to the collective experiences and analyses of a broad number of businesses, enabling them to evaluate the risk of fraud more accurately. By cross‐industry referencing, data sharing can help increase revenue, reduce overall fraud rates and enhance customer relationships.
"Our customers look to us to provide the most effective fraud management tools for their on‐line businesses ‐ and Ethoca’s pioneering data sharing service adds to our full range of solutions to help protect businesses from fraudulent transactions, chargebacks and unauthorized payments,” said Andrea Wilson, CEO of First Atlantic Commerce.
"Adding Ethoca provides us a great opportunity to ethically share data with companies in all industries, and we encourage our customers to join in combating fraud through Ethoca and data sharing.”
About Ethoca Limited (www.ethoca.com)
Headquartered in Dublin, Ireland, with offices in Toronto, Canada, Ethoca enables businesses operating in any “customer‐not‐present” environment (i.e., business by internet, phone, fax or mail) to make informed decisions about their customers through sharing data in a way that is efficient, effective and ethical.
Businesses submit transactional data to Ethoca and in return receive summary history and analysis based on the collective data of Ethoca’s clients. The data received can then be used to gauge the fraud‐risk associated with any given transaction. Ethoca’s clients maximize their profits by finding the optimal balance between allowed transactions, fraud‐risk levels, and fraud management costs. Ethoca’s use of independent third‐party business process and data integrity audits ensures that the privacy and security of data is maintained.
About First Atlantic Commerce (www.firstatlanticcommerce.com)
Headquartered in Bermuda, and established in 1998 to create secure card‐based payment solutions for e‐businesses, FAC provides powerful technology designed to work with most merchant platforms, including Microsoft®, UNIX, and LINUX platforms. FAC’s cGate® technology offers service, flexibility and security to adapt to many business and bank acquirer requirements. Business solutions such as 3‐D Secure™ Payer Authentication, Virtual Corporations and offshore multicurrency payment solutions are available in various offshore jurisdictions.