TSYS announced an agreement with Ethoca, a provider of collaboration-based technology that enables card issuers and e-commerce merchants to stop card-not-present fraud, recover lost revenue and eliminate chargebacks.
Launched through this agreement, the TSYS Transaction Recovery NetworkSM, 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, 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 post TSYS deal for card issuers and merchants to combat fraud appeared first on Payments Cards & Mobile.