What are they and how they work
Whenever a cardholder disputes a transaction, the issuing bank alerts the Ethoca network.
The merchant receives the network notification in near-real-time. The alert provides the merchant with transaction data like the date, amount, and card number (partly obscured for security).
At this point, the merchant can take action. Possible actions include:
→ Issuing a refund for a valid transaction.
→ Stopping the shipment of goods in cases of fraud or cancellation.
→ Contacting the customer directly.
→ Offer an alternative resolution such as a store credit, replacement, or free service.
Of course, the merchant can also ignore the alert, but this usually results in a chargeback. Ethoca Alerts are intended to reduce or eliminate chargebacks proactively.
Additional info:
→ This means we also need to know if/when these change
→ Enrolment speed: it usually takes around 2-3 working days