Ethoca, an anti-fraud technology provider based on collaborative information sharing, has added significant card issuer coverage to its global network to include more alerts from card issuers in new geographies.
Ethoca’s commercial relationships with major card brands significantly extend its global’s network, which currently comprises over 20 card issuers, including seven US issuers, seven UK issuers, five Canadian issuers and an Australian issuer.
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Over the last quarter alone, Ethoca has sent 90% more fraud and customer dispute alerts, with new card issuers and merchants joining the network, driven by the Ethoca ‘Network Effect’.
According to the Boston Consulting Group, cross-border ecommerce currently makes up 10-15% of total ecommerce volume, depending on the region, as a result of which many ecommerce retailers are seeing significant increases in cross-border fraud and disputes.
This urgent need for cardholder confirmed fraud and dispute data can be addressed by Ethoca’s global issuer expansion, which targets regions accountable for the most volume.
The US merchants will be more benefitted with Ethoca’s global issuer expansion, as the coming implementation of EMV there has led many experts to predict a significant increase in Card Not Present fraud.
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By GlobalDataTrevor Clarke, executive vice president, issuer relations and co-founder of Ethoca, said: "Beyond card issuers that have joined the network in the last quarter, Ethoca’s near-term pipeline includes card issuers throughout Western, Eastern and Northern Europe, South America, Mexico and, in the near future, China.
"All of these regions are expected to be part of the Ethoca Network in 2015, and some even sooner than that.
"We’re excited to be bringing these new global sources of confirmed fraud and dispute data to a growing merchant network that now seamlessly spans the world’s borders."
