A top five UK card issuer needed to find a solution to combat rising fraud attacks, eliminate chargebacks and reduce operational costs. Through Ethoca’s global card issuer-merchant collaboration network, the bank mitigated 31,304 chargebacks over a 13-month period and helped change the face of fraud in the UK.
Ecommerce fraud was negatively impacting the business of a top seven U.S. card issuer. Despite the use of sophisticated fraud tools, chargeback processing costs, operational expenses, losses from low value write-offs and transaction decline rates were all increasing. By leveraging Ethoca’s global merchant-issuer collaboration network, the bank was able to mitigate 78,148 chargebacks and recover $9,091,266 worth of fraud losses over a 13-month period.