Ready to increase acceptance?
In ecommerce, there's one thing everyone agrees on: You should stop as many fraudulent transactions and customer disputes as possible, while accepting every good transaction. Easier said than done, right? The reality is that striking that balance is the biggest challenge for every party involved in the ecommerce transaction. Fraud losses and chargebacks come at the direct expense of acceptance.
As a merchant, higher CNP fraud losses and increased chargebacks generally leads to tightening your fraud rules – potentially rejecting good customers who will go to a competitor in the blink of an eye. As an issuer, the increasingly high cost to recover fraud losses results in the same thing – approving fewer transactions and potentially declining good cardholders who won’t hesitate to pull out a competitor’s payment card. And then there’s the growing impact of friendly fraud and false claims further muddying the waters. Fortunately, we can help.
How Ethoca increases acceptance
Deeper collaboration between card issuers and merchants through Ethoca can tackle the biggest acceptance challenges in ecommerce. Take Ethoca Consumer Clarity™. As a card issuer, you can tap into our network of merchant data and jog a cardholder’s memory with a digital receipt, purchase history or confirmation of a refund already in flight. The result: Chargebacks and disputes are ‘deflected’ and an infinitely better cardholder experience is born – one that keeps your card at the top of the wallet. As a merchant, you’ll recover the revenue and avoid the chargeback through one simple step. Genius! But that’s just the start.
Ethoca Alerts boosts acceptance, too, by giving merchants confidence to accept more transactions – knowing that if CNP fraud does occur, our alerts provide a window of opportunity to stop fulfillment and avoid the chargeback before it’s too late. Issuers, of course, get an acceptance lift, as well: more approved good transactions and better experience for cardholders.
Products to help increase acceptance
Ethoca Consumer Clarity™
Eliminate chargebacks and recover revenue lost to 'friendly fraud' and service-related disputes.
Reduce CNP fraud and chargebacks through merchant-issuer collaboration.
The First Party Fraud Conundrum: How to Protect FI's and Merchants
In our latest research, new findings explore how first party fraud and chargeback volumes are shifting, as well as the tools and data points payments stakeholders are looking at to help reduce disputes and fraudulent behavior, while also improving acceptance rates.