Ethoca Alerts | Start Preventing Chargebacks Today

Reading Time: 6 minutes

Last Updated on November 6, 2024 by Corepay

Stop chargebacks quickly and efficiently with Ethoca Alerts.

Are you struggling to manage chargebacks effectively? We proudly offer Ethoca alerts, a reliable solution to detect and prevent chargebacks before they impact your business.

By implementing Ethoca Alerts with our team at Corepay, you can intercept disputes early, saving time and money while improving customer satisfaction.

So, What is It? Ethoca Alerts, powered by Mastercard, is a real-time alert system designed for merchants who want to protect revenue, reduce chargebacks, and optimize customer relationships.

At A Glance

Ethoca Alert gives merchants a 48-72 hour advance window before a chargeback is initiated, allowing them to notify Ethoca if they plan to issue a refund.

This  helps stop the chargeback process before it starts. By using alerts, merchants can stay within the chargeback limits established by card networks, helping them avoid being classified as high-risk.

Key Takeaways

• • Reduce Chargebacks by 35 to 40%: Ethoca Alerts helps intercept disputes early, preventing chargebacks before they impact your bottom line.

• • Coverage: Ethoca alerts provide coverage for both US and international merchants.

• • Real-Time Fraud Detection: Get alerted within 24 hours of a customer dispute, allowing for swift resolution.

• • Save on Fulfillment Costs: Stop shipments or services on disputed transactions to reduce inventory and shipping expenses.

• • Improve Customer Satisfaction: Quickly resolve issues and strengthen customer relationships, building loyalty and trust.

• • Easy Integration Options: For added automation, reporting, and management simplicity, set up Ethoca Alerts directly or through Corepay’s sister company, CB-Alert.

• • In-Depth Data Insights: Use transaction data to refine fraud prevention rules, reduce future chargebacks, and optimize business strategies.

How Ethoca Alerts Work:

Here’s a quick rundown of the process:

1. Customer Dispute Initiation: When customers contact their bank to dispute a charge, the bank immediately notifies Ethoca.
2. Instant Merchant Notification: Ethoca sends an alert to the merchant via Corepay’s chargeback management platform.
3. Resolve the Dispute Quickly: Merchants can decide to refund or resolve the dispute to stop the chargeback process.
4. Update Fraud and Dispute Rules: Merchants can use the data gathered from Ethoca Alerts to refine their fraud prevention strategies, further reducing chargeback risks.

Why Use Ethoca Alerts with Corepay?

Chargebacks drain revenue and put merchant accounts at risk. Ethoca Alerts provides an innovative, proactive solution that can reduce chargebacks by up to 40%, helping merchants of all sizes maintain low chargeback ratios and preserve their merchant accounts.

Corepay’s Partnership Advantage

By choosing Corepay as your partner for Ethoca Alerts, you benefit from our expertise in chargeback management and dispute resolution. We streamline onboarding, provide ongoing support, and ensure you maximize the benefits of Ethoca’s technology with tailored insights and real-time data.

Key Benefits of Ethoca Alerts

Ethoca Alerts is designed to help merchants prevent chargebacks, combat fraud, and improve the customer experience. Here’s a closer look at the primary benefits:

Prevent Chargebacks and Preserve Revenue

Chargebacks can cause significant revenue losses, impact cash flow, and even lead to account termination. With Ethoca Alerts:

• • Stop Chargebacks at the Source: Ethoca Alerts intercept potential chargebacks early, allowing you to refund or resolve disputes before they turn into chargebacks.

• • Save on Fulfillment Costs: Stop shipment or cancel service delivery on disputed transactions, reducing inventory, shipping, and other fulfillment-related expenses.

• • Protect Merchant Accounts: By reducing chargeback ratios, you safeguard your merchant account from closure, which can happen when chargeback ratios rise too high.

Benefits for Merchants

• • Minimize Friendly Fraud

• • • Enhance purchase transparency to reduce confusion and prevent invalid disputes.

• • Protect Revenue Streams

• • • Preserve revenue by avoiding unnecessary refunds resulting from purchase misunderstandings.

• • Lower Chargeback Fees

• • • Decrease chargeback incidents caused by friendly fraud and dispute issues, minimizing related fees.

• • Enhance Customer Interaction

• • • Route disputes directly to the merchant by providing clear contact information, promoting direct engagement.

Benefits for Issuers

• • Reduce Customer Confusion

• • • Improve transaction clarity upfront, decreasing friendly fraud disputes.

• • Lower Chargeback Expenditures

• • • Cut down on unnecessary chargebacks and write-offs stemming from friendly fraud.

• • Enhance Customer Satisfaction

• • • Strengthen customer experience with faster, more satisfying resolutions.

• • Resolve Disputes Efficiently

• • • Enable effective and accurate dispute resolution during the first customer call, saving time and resources.

Improve Fraud Detection and Mitigation

Fraud is a leading cause of chargebacks. Ethoca Alerts help reduce fraud-related losses by leveraging real-time data analytics and AI-driven fraud detection:

• • Real-Time Alerts: Receive alerts within 24 hours of the customer initiating a dispute with their bank, allowing quick resolution.

• • Data-Driven Decisions: Use data insights from Ethoca to understand fraud trends and adjust fraud prevention rules for more secure transactions.

• • Enhanced Fraud Protection: Ethoca’s AI capabilities allow merchants to identify potential fraud before the Dispute reaches a costly chargeback stage.

Customer Satisfaction

Customer loyalty is essential for sustainable business growth. Ethoca Alerts enables you to address issues swiftly, turning potentially negative experiences into opportunities to build trust:

• • Proactive Customer Support: Quickly resolve disputes, show customers you value their business, and prevent complaints.

• • Increased Transparency: Use Ethoca Consumer Clarity to provide customers with detailed transaction information directly within their banking apps.

• • Stronger Customer Loyalty: Faster resolutions mean happier customers, who are more likely to remain loyal to your brand.

1.  

Ethoca Consumer Clarity

Ethoca Consumer Clarity enhances transaction transparency by providing detailed purchase information directly to customers within their banking app.

Consumer Clarity helps minimize chargebacks resulting from misunderstandings or unrecognized transactions. Here’s how Consumer Clarity benefits merchants and issuers:

What Consumer Clarity Provides

• • In-Depth Transaction Details: Includes information such as itemized receipts, merchant names, location, and more.

• • Digital Receipts in Banking Apps: Customers can review their transaction history and digital receipts, helping them recognize legitimate purchases.

• • Reduced Chargebacks from Customer Confusion: Consumer Clarity prevents disputes due to unclear transaction details by enabling customers to identify transactions easily.

Comparing Ethoca Alerts to Verifi Alerts

While Ethoca Alerts and Verifi Alerts by Visa both help prevent chargebacks, they serve different functions:

• • Ethoca Alerts: Focuses solely on fraud detection and prevention, ideal for merchants who need a streamlined solution for fraud-related chargebacks.

• • Verifi Alerts: Covers both fraud and non-fraud disputes, making it versatile for businesses facing multiple chargeback types.

*We will review your busiess and offer guidance on which solution best meets your needs, ensuring you choose the most effective strategy for your business.

Integration Options VIA CB-Alert

There are two primary ways to integrate Ethoca Alerts into your system:

1.Direct Integration with Ethoca

Corepay offers a simple, straightforward integration with Ethoca Alerts for businesses that prefer direct access.

2.Integration Through CB-Alert

• • Automated Processes: CB-Alert offers automation options, making it easier to manage alerts and stop chargebacks without manual intervention.

• • Comprehensive Reporting: CB-Alert provides detailed insights, helping you track trends and optimize your chargeback prevention strategy.

• • One-Click Resolution: Manage and respond to alerts quickly, with minimal effort, through our platform.

With CB-Alert, you’ll receive all Ethoca functionality plus enhanced features for added efficiency, allowing you to prevent chargebacks with greater precision.

Step-by-Step Guide to Getting Started with Ethoca Alerts

Here’s a quick look at what you need to do to begin with Ethoca alerts.

1. Sign Up with Corepay
2. Contact Corepay for an initial consultation, and we’ll guide you through the setup. Our onboarding process is fast and designed for ease, so you can begin seeing results in just 24 hours.
3. Receive Real-Time Alerts
4. Once activated, you’ll start receiving real-time alerts for disputed transactions, giving you ample time to resolve issues before they escalate.
5. Take Action to Prevent Chargebacks
6. You can issue a refund, cancel a subscription, or halt shipment with each alert.
7. Leverage Data Insights
8. Ethoca Alerts provides valuable data that you can use to refine your fraud prevention rules, helping reduce similar disputes in the future.

Building a Comprehensive Chargeback Management Strategy with Corepay

Ethoca Alerts are most effective as part of a holistic chargeback prevention strategy. Corepay offers a range of services to create a complete chargeback management solution through our sister company, CB-Alert.

The Corepay Advantage

Choosing Corepay for Ethoca Alerts means working with a partner who understands chargeback challenges. We simplify onboarding, provide user-friendly solutions, and help you optimize your chargeback prevention efforts for maximum ROI.

• • Quick Setup: Our team ensures you’re up and running quickly without complex integration requirements.

• • Competitive Pricing: We often provide the lowest pricing for alerts via our sister product, CB-Alert.

• • Automated Management: Manage disputes, refunds, and cancellations in one place, minimizing manual processes.

• • Detailed Tracking: Access transparent reporting and real-time data to make informed decisions and improve your bottom line.

Verifi vs. Ethoca Alerts: Chargeback Prevention Overview

Ethoca™ and Verifi™ are two leading vendors that provide prevention alerts to help merchants manage chargebacks by enabling them to refund disputed transactions before a chargeback is filed. Both offer similar core functionality but differ in descriptor enrollment methods, issuer network reach, and regional coverage.

• • Descriptor Enrollment: Billing descriptors, crucial for identifying disputed transactions, are handled differently. Ethoca can match descriptors by phrase start or exact match, while Verifi matches through exact descriptors or customer service numbers.

• • Issuer Networks and Coverage: Major banks use both Ethoca and Verifi, but each network has unique strengths. Ethoca has broader Mastercard and international coverage, while Verifi is US-only.

Should Merchants Use Both Ethoca And Verifi Alerts?

Merchants often benefit from using both providers for the best protection. Ethoca offers fraud and non-fraud alerts globally, while Verifi covers similar alert types but is primarily U.S.-focused.

Get Started with Ethoca Alerts Today

Ready to protect your revenue and reduce chargebacks with Ethoca Alerts? Corepay makes implementing, managing, and monitoring alerts easy so you can focus on growing your business. With a potential 30-40% reduction in chargebacks, Ethoca Alerts offers a high-impact solution for merchants looking to preserve revenue and prevent fraud.