Via https://newsapi.org online business online marketing online business opportunities Mastercard Acquires Ethoca to Reduce Digital Commerce Fraud

Via https://newsapi.org  online business  online marketing  online business opportunities Mastercard Acquires Ethoca to Reduce Digital Commerce Fraud


Via https://newsapi.org online business online marketing online business opportunities

PURCHASE, N.Y.–()–Mastercard
(NYSE: MA) today announced it has entered into an agreement to acquire
Ethoca, a global provider of technology solutions that help merchants
and card issuers collaborate in real-time to quickly identify and
resolve fraud in digital commerce.

The Ethoca suite of products adds to Mastercard’s commitment to drive
greater protection in the digital space, integrating with its robust
suite of fraud management and security products.

Today, the Ethoca network brings together more than 5,000 merchants and
4,000 financial institutions around the world. When a fraudulent
transaction is identified, near real-time information is sent to the
merchant so they can confirm the transaction, stop delivery or reverse
the transaction to avoid the chargeback process. As a result, both
merchants and card issuers benefit from lower operational costs by
reducing fraud at the source.

Mastercard intends to further scale these capabilities and combine
Ethoca with its current security activities, data insights and
artificial intelligence solutions to help merchants and card issuers
more easily identify and stop potentially fraudulent purchases and false
declines.

“Advancements in technology are enabling us to transform the experience
for our customers,” said Ajay Bhalla, president of cyber and
intelligence solutions for Mastercard. “Ethoca is a strong addition to
our multilayered cyber strategy, helping customers take immediate action
against fraud and eliminate chargebacks before they can occur. In turn,
consumers are provided with a better checkout experience every time they
shop at a participating site.”

According to Juniper Research, retailers are expected to lose $130
billion in online fraud over the next five years. In addition, research
firm Aite Group estimates that false declines – when card issuers
decline transactions from good customers due to a perceived fraud risk –
cost the industry $331 billion in 2018 in the U.S. alone.

“Mastercard is a natural home for Ethoca,” said Andre Edelbrock, CEO of
Ethoca. “For more than a decade, we’ve connected e-commerce businesses
with banks to make the payments system simpler and more secure. We are
excited to have the opportunity to bring our services to more places and
people, ultimately contributing to the best possible online payment
experience.”

Terms of the agreement were not disclosed and the transaction is
anticipated to close in the second quarter of 2019.

About Mastercard

Mastercard (NYSE: MA), www.mastercard.com,
is a technology company in the global payments industry. Our global
payments processing network connects consumers, financial institutions,
merchants, governments and businesses in more than 210 countries and
territories. Mastercard products and solutions make everyday commerce
activities – such as shopping, traveling, running a business and
managing finances – easier, more secure and more efficient for
everyone. Follow us on Twitter @MastercardNews,
join the discussion on the Beyond
the Transaction Blog
 and subscribe for
the latest news on the Engagement
Bureau
.

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 from both fraud and customer service disputes.
Through the Ethoca Network – the first and only of its kind in the
industry – Ethoca is closing the information gap between card issuers
and merchants. This unique capability makes fraud and customer dispute
insight available and actionable in real time.

Its suite of services delivers significant revenue growth and cost
saving opportunities to more than 5,400 merchants in 40+ countries and
more than 4,000 card issuers in 20+ countries. Eight of the top ten
North American ecommerce brands, 14 of the top 20 North American card
issuers and six of the top ten UK card issuers rely on Ethoca solutions
and the network that powers them.

Forward-Looking Statements

This press release contains forward-looking statements pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical facts may be
forward-looking statements. When used in this press release, the words
“believe,” “expect,” “could,” “may,” “would,” “will,” “trend” and
similar words are intended to identify forward-looking statements.
Examples of forward-looking statements include, but are not limited to,
statements that relate to Mastercard’s future prospects, developments
and business strategies, as well as Mastercard’s acquisition and
operation of Ethoca’s business. We caution you to not place undue
reliance on these forward-looking statements, as they speak only as of
the date they are made. Except for the company’s ongoing obligations
under the U.S. federal securities laws, the company does not intend to
update or otherwise revise the forward-looking information to reflect
actual results of operations, changes in financial condition, changes in
estimates, expectations or assumptions, changes in general economic or
industry conditions or other circumstances arising and/or existing since
the preparation of this press release or to reflect the occurrence of
any unanticipated events.

Many factors and uncertainties relating to the proposed transaction, our
operations and our business environment, all of which are difficult to
predict and many of which are outside of our control, influence whether
any forward-looking statements can or will be achieved. Any one of these
factors could cause our actual results or the impact of the acquisition
to differ materially from those expressed or implied in writing in any
forward-looking statements made by Mastercard or on its behalf. Such
factors related to the completion and impact of the acquisition include,
but are not limited to, the following:

  • whether all necessary conditions will be met, and
  • whether the transaction will close on agreed terms and in a timely
    manner.

For additional information on other factors related to Mastercard’s
overall business that could cause Mastercard’s actual results to differ
materially from expected results, please see the company’s filings with
the Securities and Exchange Commission, including the company’s Annual
Report on Form 10-K for the year ended December 31, 2018, and any
subsequent reports on Forms 10-Q and 8-K.

via https://newsapi.org online business online marketing online business opportunities

Read More

Be the first to comment on "Via https://newsapi.org online business online marketing online business opportunities Mastercard Acquires Ethoca to Reduce Digital Commerce Fraud"

Leave a comment

Your email address will not be published.


*