Sales League Table 2020 | Banking Technology Winners

Results Announced!

IBS Intelligence launches BankTech Daily News

Subscribe today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Mastercard and Ethoca support retailers to combat chargebacks and fraud during COVID-19

Mastercard, payments, FinTech, Mastercard and Ethoca have introduced a support package for all retailers in Australia and New Zealand to help tackle fraud and chargebacks during COVID-19. The offer will include free access to the dispute resolution service – Ethoca Alerts, until July 31, 2020. As retailers adapt to a digital world, they face the risk of rising disputes, chargebacks and fraud as e-commerce offerings become greater. This can be costly and time-consuming as businesses need to evolve their presence online.

The Ethoca Alerts solution offers small, medium and large organisations a more efficient and effective way to identify, manage and resolve fraud and chargeback disputes. In the past 12 months, it has helped businesses globally prevent more than 7 million chargebacks and nearly US$200 million worth of fraud.

Brett Small, General Manager, Asia Pacific, Ethoca elucidated, “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.”

Mastercard is inviting qualifying retailers across Australia and New Zealand to request access to its real-time alerts platform as part of a no-fee trial until July 31, 2020.

Richard Wormald, division president, Mastercard Australasia encapsulated, “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.”

Mastercard’s recent efforts to tackle COVID-19 include championing an increase in contactless payment limits across the world, making its STEM curriculum, Girls4Tech, available online and working closely with the Bill & Melinda Gates Foundation and Wellcome to speed development and access to therapies for COVID-19. Mastercard has expanded its worldwide commitment to financial inclusion by pledging to bring a total of 1 billion people and 50 million micro and small businesses into the digital economy by 2025.

Related IBS Intelligence Research

Related Posts

NAB

NAB to recruit bankers and advisers for high net wealth clients

National Australia Bank (NAB) announced that it will recruit 50 new bankers and advisers, as part of its new strategy to provide high net wealth clients with a single point of access for their financial needs, ranging from wealth creation, business growth to retirement needs and philanthropic investment. JBWere CEO and leader for NAB Private, […]

This post is only available to members.

Read More »

EQ launches new automated complaints management product

EQ has announced that it is launching a new automated complaints management product for the financial services industry, EQ Complaints Professional. The new solution is expected to enable firms to enforce their FCA compliance immediately as well as continually as regulation changes. Andrew Edler, MD of EQ Charter, commented, “We are delighted to bring this […]

This post is only available to members.

Read More »
bank, FinTech, neobank, smartbanks, challenger banks, Asia

Australia’s big 4 banks welcome the launch of open banking

The Competition and Consumer (Consumer Data Right) Rules went live on July 1, in Australia. This has been welcomed by the big 4 banks of the country – ANZ, Westpac, Commonwealth Bank and NAB where they will be sharing their customers’ data with third parties, when requested by the customer. Angus Sullivan, CBA’s Group Executive […]

This post is only available to members.

Read More »

Lendio facilitates $8 bn in PPP loans to 100,000 small businesses

Lendio, a leading marketplace for small business (SMB) loans, announced that the company has till now facilitated $8 B in Paycheck Protection Program (PPP) loans for 100,000 small businesses. The firm’s partnership with 300 SBA-approved financial institutions and FinTech leaders has helped the company to secure COVID-19 relief funds for several underserved segments of the […]

This post is only available to members.

Read More »