Credit union service organisation PSCU has partnered with Ethoca, a provider of collaboration-based technology, to enhance card not present fraud loss recoveries.
The partnership will enable credit union member-owners to recover the fraud losses, including low value transaction write-offs and 3-D Secure transactions.
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Under the partnership, PSCU will leverage Ethoca Alerts to distribute confirmed fraud reported by its credit unions to more than 5,200 e-commerce merchants globally.
PSCU senior vice president and chief risk officer Jack Lynch said: “PSCU engaged in a successful pilot of the Ethoca Alerts service and determined there was significant value and cost avoidance for our members.
“As card not present fraud continues to rise, PSCU looks to the future and a continuing partnership to capitalize on the long-term value that comes from participating in Ethoca’s global collaboration network.”
Ethoca executive vice president of sales Jason Howard said: “Our partnership with PSCU means that not only will their hundreds of credit union Member-Owners benefit from the value of the Ethoca collaboration network, but so also will our thousands of other issuer and merchant participants.
“As our network continues to grow and merchant adoption increases globally, PSCU is poised to get even more value from the Ethoca Alerts service in the future. It is our privilege to support PSCU’s credit unions at a time when fraud continues to increase and cardholder experience is top of mind.”
