Kount, a leading provider of fraud detection and sales boosting technology, and Ethoca, the industry standard for collaboration-based technology solutions that help card issuers and online merchants increase transaction acceptance and stop ecommerce fraud, today announced a strategic partnership to help ecommerce merchants increase their overall acceptance levels.
Ecommerce merchants aim to strike a delicate balance: eliminating as much fraud as possible, while maximizing the acceptance of good orders. With the increasing frequency of data breaches and online security threats, many ecommerce merchants are tightening their fraud tools to stop as much fraud as possible, but that often results in too many good orders that are wrongly rejected and result in lost revenue.
Through its partnership with Ethoca, Kount now offers merchant customers worldwide an additional, complementary service with Ethoca Alerts. These alerts provide a safeguard to catch fraud that has already been confirmed between the card issuing bank and the cardholder. Every day, 27 card issuers and 500+ credit unions on Ethoca's global network send confirmed fraud and customer dispute data to Ethoca. Ethoca then sends this data to merchants in the form of near real-time alerts that arrive in a matter of hours. Merchants would normally have to wait three to six weeks to receive this information through the chargeback and dispute process.
Because Ethoca Alerts provide an early warning on fraud and disputes that have already been confirmed by cardholders, Kount's merchant customers now have the opportunity to stop additional fraud and issue a refund to avoid a possible chargeback. Ethoca Alerts acts as an extra layer of protection that catches fraud post authorization and/or settlement and Kount's merchant customers have another tool to help them safely increase their acceptance levels to boost revenue. The result: merchants are able to accept more good orders without a significant increase in fraud losses or chargeback levels.
"At Kount, we are committed to helping ecommerce merchants beat fraud and boost sales," said Rich Stuppy, COO of Kount. "Through our partnership with Ethoca, we can bring Kount merchants a proven service that helps further increase acceptance levels without worrying about the impact of increased fraud and chargeback costs. We're excited to empower our customers with the same Ethoca service that more than 2,000 merchants around the world rely on every day."
"At Ethoca, we believe ecommerce should simply be about commerce," said Keith Briscoe, Chief Marketing Officer at Ethoca. "Through our relationship with Kount, we can help more merchants focus on better serving their customers – instead of dealing with the costly impact of fraud and customer service disputes."