Worldpay Partners with Mastercard to Combat Payment Fraud

In a move to enhance security and reduce financial losses for merchants, Worldpay has announced a partnership with Mastercard to offer Ethoca Alerts to its one million merchants worldwide, according to Finextra. This collaboration aims to help merchants resolve transaction disputes faster and with fewer chargebacks.

Ethoca Alerts, which works across payment brands, serves as an early warning system to prevent disputes from escalating into chargebacks, thereby reducing potential financial losses due to fraud. The system comes at a crucial time as chargeback volumes are on the rise, with industry-wide figures expected to reach 337 million by 2026, a 42% increase from 2023 levels.

Mastercard reports that between 2022 and 2023, Ethoca Alerts prevented $1.6 billion in fraud due to chargebacks. Johan Gerber, Executive Vice President of Cyber and Intelligence at Mastercard, expressed enthusiasm about the partnership, stating, «This partnership with Worldpay extends our powerful technology to even more merchants around the world, reducing fraud.»

Gabriel de Montessus, Executive Vice President of Global Enterprise at Worldpay, echoed this sentiment, saying, «We’re pleased to bring this solution to the market in partnership with Mastercard to deliver more value and innovation to our clients.»

This collaboration underscores the ongoing efforts within the payment industry to enhance security measures and protect merchants and consumers alike from fraudulent activities.