We believe that online sellers must combine efforts, the same way that fraudsters have been doing for years. Ethoca's collaborative fraud management network enables us to share our experiences safely and securely -- this is truly the next frontier in fighting fraud.
Dublin, Ireland and Buffalo Grove, IL (PRWEB) December 7, 2007
Ethoca, the global leader in collaborative fraud management, announced today that The Twister Group -- an online retailer of small consumer electronics and accessories - has joined the rapidly expanding global network of companies working together to combat fraud.
"Customer-Not-Present fraud is a growing problem that none of us can stop alone," said Eugene Pritsker, Founder of The Twister Group. "We believe that online sellers must combine efforts, the same way that fraudsters have been doing for years. Ethoca's collaborative fraud management network enables us to share our experiences safely and securely -- this is truly the next frontier in fighting fraud."
Today's announcement adds momentum to the growing movement of merchants joining together as collaborators in the fight against fraud. From online retail to electronic payments to online charities to gaming, global leaders in the world's major e-commerce markets see Ethoca's collaborative fraud management service as a way to make informed decisions and enhance profitability. For example, recent research data has shown that over $30 billion in revenue is foregone by e-businesses annually because they lack the tools to better assess transaction risk -- Ethoca offers a one-of-a-kind opportunity to recover this lost revenue. Ethoca is a unique service that allows companies to learn and benefit from the fraud experiences of other companies - accepting more of the "right" types of transactions increases revenue, and declining the "wrong" ones reduces losses and non-payment.
"By connecting to our collaborative fraud management community, The Twister Group is demonstrating real leadership in the fight against fraud," said Andre Edelbrock, Ethoca's President and CEO. "Businesses around the world are quickly realizing that effective fraud management is about cooperation, not competition."
About Ethoca Limited (http://www.ethoca.com)
Headquartered in Dublin, Ireland, with offices in Toronto, Canada, Ethoca is the leader in collaborative fraud management. Ethoca enables businesses operating in any customer-not-present environment - business by internet, phone, fax or mail - to make informed decisions about their customer transactions by sharing transaction experience data with other companies in a way that is secure, automated, effective and ethical. Businesses submit transaction data to Ethoca and can use summary history and analysis based on the matched data of Ethoca's members to gauge the fraud-risk associated with any given transaction.
Ethoca's community includes a number of leading and recognized companies and payment and fraud solution provider partners from around the world.
Ethoca's clients increase profits by finding the optimal balance between allowed transactions and fraud-risk levels, and fraud management costs. Ethoca's use of independent third-party business process and data integrity audits ensures that the privacy and security of data is maintained. For more information about Ethoca visit http://www.ethoca.com.
About The Twister Group (http://www.thetwistergroup.com)
Based in Buffalo Grove, Illinois, The Twister Group is an online retailer of numerous categories of small consumer electronics, appliances and accessories. Categories sold include: appliances, audio, video, cables, computer equipment and phones. For more information about The Twister Group visit http://www.thetwistergroup.com.