M-Cube Media Limited Adopts Breakthrough Technology to Fight Fraud
Posted on Mon, Jun 23, 2008 @ 09:36 AM
Prepaid Card Innovator Joins Ethoca's Global Movement to Enhance Profits Through Collaborative Fraud Management
(MARKETWIRE) June 23, 2008 -- Ethoca, the leader in collaborative fraud management, announced today that M-Cube Media Limited -- a rapidly growing provider of prepaid card services -- is the latest to join the global community of fraud fighters to protect the integrity of its stored value payment system as an alternative to cash, credit or debit cards.
NEWS FACTS
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Prepaid cards are a critical component of ecommerce, enabling people who want the budget control of cash together with the convenience of secure online shopping. M-Cube Media is demonstrating real leadership by acting to defeat fraud and protect the integrity of prepaid card services.
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From online retail to electronic payments to online charities to gaming, global leaders see Ethoca as a way to inform their decisions and enhance their profitability on thousands of transactions every day.
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Ethoca is the only community that allows companies to benefit from the payment experiences of other companies. Accepting more of the "right" types of transactions increases revenue, and declining the "wrong" ones reduces losses and non-payment.
QUOTES
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"By adopting Ethoca's revolutionary collaborative fraud management technology, M-Cube is asserting that it wants to be out in front of the growing fraud problem, particularly in customer-not-present transactions," said Mashallah H. M. Ali, CEO, of M-Cube Media. "Fraudsters are working together to attack online merchants and the integrity of our payment systems, and everyone affected needs to collaborate in the effort to fight back. Billions are lost to fraud, but when online merchants and payment systems work together through Ethoca, billions will be saved."
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"M-Cube's participation represents another big step forward in creating a truly global cross-industry effort to halt and reverse the growth in online fraud -- and is a major endorsement of Ethoca's collaborative fraud management technology," said Andre Edelbrock, CEO of Ethoca. "Most fraud management is about reducing risk alone; Ethoca's unique because we're also about increasing revenue. That's why we're turning competitors into collaborators."
About Ethoca
Working in partnership with forward-thinking businesses, individuals and law enforcement, Ethoca is making e-commerce safer and more profitable by building the first international collaborative anti-fraud community.
To be more successful in combating fraud, companies must collaborate within and across industries by securely sharing transaction experiences in a way that is not a competitive threat. Ethoca enables businesses that operate in card-not-present environments (Internet, phone, fax or mail) to make more informed decisions about their customer transactions, by sharing transaction experience data in a way that is secure, automated, effective and ethical. Community members see reduced fraud, lower fraud-related costs, increased revenue from fewer wrongly rejected orders and improved customer satisfaction rates.
Ethoca™ is a registered trademark of Ethoca Limited.
About M-Cube Media Limited
M-Cube Media is the innovative leader in prepaid cards, also know as "stored value cards," creating value by partnering with leading technology and financial providers to source, deliver and maintain PrePay services. M-Cube provides a complete white label PrePay solution for any card programme. M-Cube's solutions span the complete spectrum from card design, production and dispatch, KYC "Know Your Customer," card system management and reporting to financial modeling, creative concept to marketing communication. M-Cube is headquartered in London, England. For more information about M-Cube Media visit m-cube.co.uk.