CASE STUDY: UK CARD ISSUER
A top five UK card issuer needed to find a solution to combat rising fraud attacks, eliminate chargebacks and reduce operational costs. Through Ethoca’s global card issuer-merchant collaboration network, the bank mitigated 31,304 chargebacks over a 13 month period and helped change the face of fraud in the UK.
The chargeback process causes a divide between card issuers and merchants and is operationally expensive for banks. The bank realized that if merchants could be contacted quickly and efficiently to stop goods or services being dispatched to fraudsters, the cost of fraud could be significantly reduced for both banks and the merchants.
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