TSYS en Ethoca bieden kaartuitgevers en verkopers wapen tegen fraude
COLUMBUS, Ga.–(BUSINESS WIRE)– TSYS heeft vandaag zijn overeenkomst met Ethoca aangekondigd. Deze internationale aanbieder van samenwerkingsgerichte technologie stelt uitgevers van betaalkaarten en e-commerceverkopers in staat kaartfraude met niet fysiek aanwezige kaarten te stoppen. Het TSYS Transaction Recovery Network, dat dankzij deze overeenkomst is gelanceerd en wordt ondersteund door Ethoca, verzorgt vrijwel directe waarschuwingen bij bewezen fraude. Dit geeft uitgevers en online verkopers de kans snel verloren gewaand geld terug te krijgen, zonder dat daar dure en tijdrovende terugvorderingsprocessen voor nodig zijn.
“Door de aanhoudende groei van e-commercebetalingen en de verwachte toename van kaartfraude zonder aanwezige kaart, is efficiënte samenwerking tussen banken en verkopers cruciaal voor het indammen van risico’s en het verbeteren van de ervaring van kaarthouders”, zei Andrew Mathieson, topman van TSYS. “Het TSYS Transaction Recovery Network faciliteert een vereende efficiëntie die online fraude en operationele kosten van vorderingen terugdringt.”
TSYS and Ethoca Empower Card Issuers and Merchants to Combat Fraud
COLUMBUS, Ga.–(BUSINESS WIRE)– TSYS ® (NYSE: TSS), today announced an agreement with Ethoca, a global provider of collaboration-based technology that enables card issuers and ecommerce merchants to stop card-not-present fraud, recover lost revenue and eliminate chargebacks. Launched through this agreement, the TSYS Transaction Recovery Network SM, powered by Ethoca, provides near real-time notification of confirmed fraud that empowers issuers and online merchants to quickly recover lost revenue and eliminate the need for expensive and time-consuming chargeback processes.
“With the continued growth of e-commerce payments and the anticipated rise in card-not-present fraud 1, efficient collaboration between issuing banks and merchants is crucial to help mitigate risk and improve the cardholder experience,” said Andrew Mathieson, group executive at TSYS. “The TSYS Transaction Recovery Network enables a collaborative efficiency that reduces online fraud and operational expenses associated with chargebacks.”
The new chargeback mitigation solution uses a simple and effective process that allows speed to market and ease of integration for financial institutions. TSYS provides the connection to automatically deliver confirmed fraud data from the issuer to Ethoca in near real time. In turn, Ethoca passes confirmed cases of card fraud across a large, global merchant network to recover funds via transaction reversal or refund, negating the need for the issuer to initiate a chargeback. The process allows fraudulent transactions to be remedied quickly, saving time and costs, while creating a vastly improved experience for cardholders inconvenienced by fraud.
“AITE Group is predicting U.S. card issuer CNP losses will reach $6.4B by 2018, in large part due to the post-EMV shift in fraud from card present to card-not-present channels,” said Trevor Clarke, executive vice president of Issuer Relations and co-founder at Ethoca. “With TSYS’ Transaction Recovery Network, collaboration between card issuers and merchants will now be available to TSYS card issuers worldwide. Through this initiative, we’re executing on a shared vision: helping card issuers find more efficient and cardholder-friendly ways to combat the costly, damaging effects of fraud and chargebacks.”
There are currently thousands of merchants across five continents, and hundreds of issuers of all sizes enrolled in Ethoca’s global network; it is the world’s largest collaboration network of its kind. According to Ethoca results, issuers who have adopted this technology have seen an average fraud mitigation rate of up to 65 percent, up to 84 percent resolution rate with highly disputed merchants, up to 75 percent recovery rate on low-value transactions that would otherwise be written off, and up to 40 percent recovery rate on 3D Secure losses.
The TSYS Transaction Recovery Network SM is available now on select platforms for card issuers with consumer and commercial portfolios in North America as well as internationally.
1 internet Retailer, Global ecommerce sales set to grow to 25% in 2015
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. Seven of the top ten ecommerce brands, seven of the top ten U.S. card issuers, two of the top five U.K. card issuers and more than 3,500 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.
About TSYS
At TSYS ® (NYSE: TSS), we believe payments should revolve around people, not the other way around. We call this belief People-Centered Payments ®. By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend ®, A TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.
TSYS’ headquarters are located in Columbus, Ga., U.S.A., with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS is a member of The Civic 50 and was named one of the 2015 World’s Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website. For more, visit us at www.tsys.com.
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Contacts
TSYS Media Relations
Cyle Mims, +1-706-644-3110
cylemims@tsys.com
or
T SYS Investor Relations
Shawn Roberts, +1-706-644-6081
shawnroberts@tsys.com