Ethoca Secures Primary Sponsorship for Merchant Risk Council U.S. Platinum Meeting
TORONTO, Ontario, Canada; AUSTIN, TX; and London, UK – October 3, 2014 – Ethoca, the industry standard for collaboration-based solutions that help card issuers and online merchants increase transaction acceptance and stop ecommerce fraud, today announced its plan to work with the world’s largest ecommerce retailers at the MRC Platinum Meeting to realize the full potential of collaboration with card issuers.
The MRC 2014 U.S. Platinum Meeting brings together a premier MRC membership base of ecommerce professionals focused on making ecommerce safer and more profitable. Over the last three years, Ethoca has been delivering on the promise of collaboration with MRC Platinum members – many of which are the world’s largest global ecommerce brands – to make this mandate a reality.
Ethoca is the industry’s most comprehensive source of cardholder-confirmed fraud and customer dispute data from a rapidly expanding global network of card issuing banks. The benefits of merchant and card issuer collaboration through Ethoca’s network go significantly beyond recovering fraud losses. The company is already working with many MRC members, including nine of the top ten ecommerce retailers, to tackle the biggest problems in ecommerce. These include solutions to increase transaction acceptance, recover lost revenue and improve customer experience.
A recent fraud report* by CyberSource confirmed that revenue loss now sits outside the top three challenges for fraud managers. Losing business by turning away good customers is now the top concern, a problem that Ethoca is uniquely addressing today with its Order Rescue solution.
“As the primary sponsor for this year’s MRC Platinum Meeting, Ethoca is reinforcing its commitment to work side by side with top ecommerce merchants to find proven solutions to the ecommerce problems that really matter,” said Julie Fergerson, Senior Vice President of Industry Solutions, Ethoca, Board Chair, Identity Theft Resource Center and Co-Founder, Former Chairman, Merchant Risk Council. “Collaboration through the Ethoca Network is different because it involves our merchants at every step of the process. For example, with our Order Rescue solution, our pilot merchants worked with us to define and measure a growing problem – turning away good customers. They then helped us to prove out and test our solution. That’s how breakthroughs happen – by collaborating closely and working through the challenges together. Helping merchants and card issuers collaborate through our network to solve these problems isn’t just what we do – it’s all we do.”
“MRC Platinum Meetings are exclusive events that encourage members to engage and learn from one another,” said Danielle Nagao, MRC CEO. “Ethoca, a MRC Signature member, promotes education throughout the ecommerce payments and fraud community and we are proud to have them as meeting sponsor.”
About Ethoca – Ethoca is the leading, global provider of collaboration-based technology that enables card issuers, ecommerce merchants and online businesses to increase card acceptance, stop more fraud, recover lost revenue and eliminate chargebacks. Through the Ethoca Network – the first and only of its kind in the industry – we are closing the information gap between card issuers and merchants. This unique capability makes fraud intelligence and card acceptance insight available and actionable in real time. Our suite of services delivers significant revenue growth and cost saving opportunities to our card issuer and merchant customers around the world. Nine of the top ten ecommerce brands, seven of the top nine U.S. card issuers, two of the top five UK card issuers and more than 1,500 ecommerce businesses around the world rely on Ethoca solutions and the network that powers them. To find out more, please visit us online at www.ethoca.com.
*CyberSource 2013 UK eCommerce Fraud Report