November 26, 2014 11:14 AM ET

Internet Software and Services

Company Overview of Ethoca Limited

Company Overview

Ethoca Limited, a technology company, provides a platform for card issuers and merchants to communicate outside of the payment authorization stream in the online payment industry. Its platform enables card issuers and merchants to identify fraudulent and/or suspicious transactions, which are undetected by the other party that results in financial losses and administrative costs. The company’s platform also creates an alert and transmits the alert to the affected merchant. In addition, it offers issuer verification services that help users to verify order information against global network of card issuing banks' records. Ethoca Limited was founded in 2005 and is based in Toronto, Canada.

4211 Yonge Street

Suite 202

Toronto, ON M2P 2A9

Canada

Founded in 2005

Phone:

416-849-6091

Fax:

416-849-6095

Key Executives for Ethoca Limited

Co-Founder
Co-Founder and President
Co-Founder
Co-Founder and Chief Technology Officer
Chief Financial Officer and Executive Vice President
Age: 40
Compensation as of Fiscal Year 2014.

Ethoca Limited Key Developments

Ethoca Names Andrew Prozes to its Board of Directors

Ethoca has named Andrew Prozes to its Board of Directors. Mr. Prozes was formerly Chief Executive Officer of LexisNexis Group, and served on the board of Reed Elsevier for 11 years. He currently serves on the board of directors of Cott Corporation, Interactive Data Corporation, ACAMS and Scribestar. Most recently, he served as a senior adviser to Warburg Pincus.

CyberSource and Ethoca Collaborate to Help Ecommerce Merchants Reduce Fraud

Visa and Ethoca are working together on a service that will notify eCommerce merchants of fraudulent transactions, allowing them to quickly stop the fulfillment process. The service is intended to help merchants reduce fraud losses and associated chargeback costs. The Visa-enhanced service is currently available to U.S. and Brazil merchants through Ethoca and also through CyberSource, wholly-owned subsidiary of Visa Inc. Using near real-time information from Visa on confirmed fraud transactions, Ethoca is able to send secure alerts to the affected merchants in the critical 24-72 hour window between when eCommerce orders are placed and when they are fulfilled or shipped, a significant reduction in time from the current average of three to six weeks it takes for merchants to be notified. The offering compares transactions from Ethoca's merchant customer base against fraud data sent by Visa and participating issuers. In the event a purchase is confirmed as fraudulent, Ethoca's platform immediately notifies the merchant through its alerts dashboard. This early warning gives merchants more time to stop the fulfillment process, limiting fraud losses.

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