With Worldpay, Mastercard will offer Ethoca Alerts to its merchants worldwide, resulting in faster credit card fraud dispute resolution and fewer chargebacks.

In an effort to improve security in payments, Mastercard is partnering with Worldpay, a global payment technology and solutions company. The partnership will enable Mastercard to provide its Ethoca Alerts to over one million merchants worldwide. Together, this will allow faster credit card fraud dispute resolution and fewer chargebacks–a win for security in digital payment transactions.

Johan Gerber, Executive Vice President, Cyber and Intelligence at Mastercard said: “With e-commerce 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.”

What Are Chargebacks?

Chargebacks are a growing problem in digital payments. This is a request for a refund that happens when a consumer disputes a transaction on their account. Industry-wide, chargeback volumes are on the rise. With the dramatic rise in e-commerce payments growing hand-in-hand with credit card fraud, chargebacks volumes are expected to reach 337 million by 2026. This is a significant 42% increase from 2023.

Between 2022-23 Ethoca Alerts enabled the prevention of USD 1.6 billion in fraud due to chargebacks. These alerts have been proven to protect retailers from fraudulent claims.

Enhanced Security Against Credit Card Fraud

With the rapid growth of e-commerce, especially in the Philippines, more robust security in digital payments is a must for continued growth.

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