Worldpay partners with Mastercard to tackle chargebacks

By Gloria Methri

Mastercard and Worldpay are enhancing the transaction experience by helping merchants resolve transaction disputes faster and with fewer chargebacks.

Chargebacks – a request for a refund triggered when a consumer disputes a transaction on their account – are a growing issue.

Through the partnership, Worldpay will offer Mastercard’s Ethoca Alerts to its 1 million merchants worldwide. The service provides an early warning system that helps prevent a dispute from becoming a chargeback and reduces potential financial losses due to fraud.

Ethoca Alerts works across all payment brands and delivers insights that merchants can use to stop the fulfilment of goods and services. Merchants do not need to change their existing infrastructure or processes to take advantage of Ethoca Alerts.

The collaboration will also help improve merchant authorization rates, enabling more of the $2.3 trillion total transactions Worldpay processes to be completed successfully, thanks to fewer erroneously declined transactions.

Johan Gerber, Executive Vice President, Cyber and Intelligence at Mastercard, said, “With ecommerce thriving, we’re working to make transactions as safe and as seamless as possible for all parties. This partnership with Worldpay extends our powerful technology to even more merchants around the world, reducing fraud. By working together, we will advance our shared goal of building trust and powering the global digital economy.”

Gabriel de Montessus, Executive Vice President of Global Enterprise at Worldpay, said, “We are pleased to bring this solution to the market in partnership with Mastercard to deliver more value and innovation to our clients. What drives us at Worldpay is creating more accessible, flexible, and seamless ways to reduce fraud while accelerating commerce and protecting consumers and merchants.”