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Mastercard continues its spending spree, agreeing to buy Ethoca, a firm that helps merchants and card issuers collaborate in real-time to identify and resolve fraud in digital commerce. Financial terms were not disclosed.
The move comes days after Mastercard bowed out of a bidding war with Visa for Earthport and instead agreed to acquire money transfer network Transfast.
The Ethoca network brings together more than 5000 merchants and 4000 financial institutions around the world. When a fraudulent transaction is identified, near real-time information is sent to the merchant so they can confirm the transaction, stop its delivery or reverse it to avoid the chargeback process.
As a result, says the firm, both merchants and card issuers benefit from lower operational costs by reducing
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