Mastercard has linked with Ethoca to form a new support package for all retailers in Australia and New Zealand to help tackle fraud and chargebacks.
The offer will include free access to the fraud and chargeback dispute resolution service Ethoca Alerts until July 31, 2020.
Brett Small, General Manager, Asia Pacific, Ethoca commented: “As businesses around the world adapt to a new normal where e-commerce takes center stage, many retailers may be facing card-not-present fraud and chargebacks for the first time. Ethoca’s goal is to drive both issues out of the ecosystem once and for all by enabling collaboration between banks and merchants to share vital intelligence that combats the problem.
“In making Ethoca Alerts available to qualifying retailers around Australia and New Zealand for no charge, Ethoca hopes to provide local businesses with a little relief as they adapt to their new way of working.”
It comes at a time when adapting to a more digital landscape is vitally important,
With world businesses needing to evolve their presence online.
Richard Wormald, division president, Mastercard Australasia added: “Mastercard is committed to exploring new ways to support its customers and community as everyone faces the ongoing challenges presented by COVID-19. Fraud and chargebacks can often incur significant costs to retailers of all sizes and the impact of these issues is only heightened in the current climate.
“As Mastercard continues on its mission to empower retailers both small and large to navigate this new normal, Mastercard is proud to play a part in helping local businesses tackle this issue so they can focus on what they do best.”
Expert Analysis: Eliminating unnecessary chargebacks and related dispute processing expenses is vitally important to companies as they seek to navigate through a turbulent period. The partnership can help this fight, especially as it’s elevated by a more digital landscape.