Once Again a Collaborative Approach to Stopping Fraud and Chargebacks Wins over Jury
Ethoca, the industry standard for collaboration-based technology solutions that help card issuers and online merchants increase card acceptance and stop ecommerce fraud and disputes, today announced that for the second consecutive year it has won the PayFORUM Security Award, recognizing successful anti-fraud efforts in France and internationally. In addition, Ethoca has also won the Grand Prix Award recognizing the best innovative solution – a special citation chosen from all PayFORUM award categories. The awards were announced on March 7 and 8 at ceremonies held during the PayFORUM 2017 conference in Paris, France.
The annual PayFORUM Awards recognize the most innovative products and solutions in France and abroad whose success is proven with major customers in the banking and payments industry. From more than 100 applicants, Ethoca and handful of other companies were chosen by a jury of industry experts as winners in their respective categories.
“For the second consecutive year, Ethoca has been singled out by the PayFORUM awards for collaboration-based innovations that are unique in the French marketplace,” said Keith Briscoe, Chief Marketing Officer, Ethoca. “We are humbled to be nominated alongside our esteemed peers in the industry, and thrilled the jury has chosen to recognize us in two major categories, including the Grand Prix. Ethoca is committed to the French market. Recognition on this level is a clear indication that France has embraced collaboration to solve the biggest fraud and transaction acceptance challenges in ecommerce.”
The award recognizes the performance of Ethoca Alerts – a faster, more cost-effective and customer friendly alternative to the chargeback process. It provides an early warning on fraud and disputes that have already been confirmed between cardholders and their issuing bank, giving merchants the opportunity to stop fraud, halt the delivery of goods and services, and refund cardholders to avoid impending chargebacks. Card issuers who use the service benefit by avoiding chargeback processing costs and recovering fraud losses – including 3D Secure and low-value transaction write-offs – much more quickly and inexpensively than ever before.
This recent victory adds to a growing list of Ethoca award wins and nominations in 2017. In February Ethoca won the 2017 Card & Payments Award for Best Technology Initiative (in conjunction with Accertify). In March, Ethoca was nominated in the Judge’s Choice and Customer Choice categories for the Best Chargeback Management Program and Anti-Fraud Solution at the 2017 CNP Awards.