Worldpay is set to offer Mastercard’s Ethoca Alerts to its one million merchants worldwide, helping them resolve transaction disputes faster and with fewer chargebacks.
Ethoca Alerts works across payment brands, providing an early warning system that helps prevent a dispute from becoming a chargeback and reduce potential financial losses due to fraud.
Chargebacks are a growing issue for merchants, with industry-wide chargeback volumes expected to reach 337 million by 2026, a 42% increase from 2023 levels.
Mastercard claims that between 2022 and 2023 Ethoca Alerts enabled the prevention of $1.6 billion in fraud due to chargebacks.
Johan Gerber, EVP, cyber and intelligence, Mastercard, says: “This partnership with Worldpay extends our powerful technology to even more merchants around the world, reducing fraud.”
Gabriel de Montessus, EVP, global enterprise, Worldpay, adds: “We’re pleased to bring this solution to the market in partnership with Mastercard to deliver more value and innovation to our clients.”