UK Digital Camera's sells a lot of goods that are targeted by criminals and fraudsters because of how easy they are to sell on the black market
Dublin, Ireland and London, UK (PRWEB) February 26, 2008
Ethoca, the leader in collaborative fraud management, announced today that UK Digital Cameras -- an online dealer in photographic equipment and personal electronics -- has joined Ethoca's global network of fraud fighters aiming aiming to recoup more than $30 billion in annual revenue for internet businesses around the world.
"UK Digital Camera's sells a lot of goods that are targeted by criminals and fraudsters because of how easy they are to sell on the black market," according to Andrew Showman, Director and Co-Founder. "We need to be ever vigilant about protecting our business against fraud, but we also see an upside in being able to accept more transactions that traditional risk assessment tools would reject. Only Ethoca's collaborative model can do this for us." Showman continued, "If we can reduce losses and increase revenues, that goes straight to our bottom line. Besides, we know that fraudsters are working together against merchants, so it's just common sense that we need to work together as retailers to fight back."
UK Digital Cameras is the latest to join a movement that is fast gaining momentum among financial services, e-tailers and online gaming operators -- in the UK and worldwide to work together through Ethoca's collaborative fraud management services.
From online retail to electronic payments to online charities to gaming, global leaders see Ethoca's collaborative fraud management service as a way to inform their decisions and enhance their profitability on thousands of transactions every day. Ethoca is the only service that allows companies to benefit from the payment experiences of other companies. Accepting more of the "right" types of transactions increases revenue, and declining the "wrong" ones reduces losses and non-payment. According to recent research, better fraud management can result in e-businesses recovering more than $30 billion in previously foregone annual revenue.
"We are very pleased to have UK Digital Cameras join us. As an online retailer, they have an outstanding reputation for customer service and satisfaction, and their business is growing extremely rapidly. This is another step forward in creating a truly global cross-industry effort to halt and reverse the growth in online fraud -- Ethoca's collaborative fraud management platform is proving to be a very compelling way for merchants to work together," said Andre Edelbrock, Ethoca's President and CEO. "If you sell online, it doesn't matter what kind of business you are, you will increase your returns with Ethoca. That's why we're turning competitors into collaborators."
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 (i.e., business by internet, phone, fax or mail) to make more informed decisions about their customer transactions by sharing transaction experience data 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 collaborative data of Ethoca's clients 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 UK Digital Cameras (http://www.ukdigitalcameras.co.uk )
UK Digital Cameras is one of the UK's fastest growing privately owned technology-based companies, and was recently ranked 41st in The Sunday Times Tech Track 100, sponsored by Microsoft. Founded in 2001 by the father/son team of Paul and Andrew Showman, UK Digital Cameras has consistently been a leader in using technology to boost growth, using advanced systems to deliver most orders the next working day and respond to 90% of email queries within two working hours. Based in London, UK Digital Cameras is an online retailer, selling a variety of consumer electronics products including digital cameras, camcorder, GPS navigation tools, iPods and others. The website can be found at http://www.ukdigitalcameras.co.uk . Ethoca™ is a registered trademark of Ethoca Limited.