Revenue – It’s slipping through your fingers
Whether you're a card issuer or a merchant, there's no worse feeling than preventable revenue loss due to friendly fraud. The problem is that your customer is changing, and the world they transact in is changing even faster. The nature of digital accounts means multiple parties - like spouses and children - are making purchases without the primary account holder being aware. That leads to more transactions not recognised by the primary cardholder – a big problem for card issuers and merchants. On top of that, customers are learning how to take advantage of the chargeback process for their own gain. What’s it all mean? A load of false claims that introduce more friction into the purchase process and take time and money to resolve.
How Ethoca recovers revenue
The good news is that Ethoca’s collaboration network is purposefully built to stop revenue leakage. The first step is using Ethoca Consumer Clarity™, which helps card issuers tap into our merchants’ extended transaction data and purchase history to deflect the chargeback right out of the gate. This happens the moment a cardholder first calls into their bank or when they click on a transaction on their mobile banking app or online statement. The instantaneous result? Recovered revenue. Not only that, but you'll also prevent future friction because cards won't need to be reissued – they stay at the top of the cardholder’s wallet where they belong.
How to recover revenue
Ethoca Consumer Clarity™
Eliminate chargebacks and recover revenue lost to 'friendly fraud' and customer disputes.