Ethoca, a Mastercard company, is leveraging a specialist network, collaborative technologies, and strengthened relationships with payments stakeholders in a bid to bolster digital experiences for consumers.
The firm is aiming to deliver deeper transparency and trust into what consumers have bought, it also helps businesses better connect with customers via one of their most trusted and highly frequented channels – their digital banking applications.
Detailing how the offering expansion could be key, the firm outlined: “The way that consumers shop, pay and bank is changing dramatically. Accelerated by the COVID-19 pandemic, consumers are adopting new digital habits at a faster pace than ever before.
“In the first two months of the pandemic alone, global e-commerce spending surged by USD $53 Billion and consumers came to rely increasingly on digital banking channels to review their purchases and track spending.
“Unfortunately, according to recent research 77% of surveyed consumers report that they’re often unable to recognize transactions in their online statements, and 96% want more detailed information available in their digital banking application to help understand what they bought.”
In a bid to alleviate this frustration, and cater to increasingly digital lives, Ethoca has introduced the new phase of its Eliminator solution.
The platform Delivers on-demand through secure and trusted banking channels, this enhanced information helps to significantly reduce unnecessary disputes and costly chargebacks caused by transaction confusion.