Ethoca’s customers pool their cardholder-not-present transaction data so the company can score each potential transaction with a fraud rating.
UK Digital Cameras wants to reduce the 60 man hours a week it spends on fraud checking. It will let transactions with low fraud scores pass straight to its warehouse, while carrying out checks on those that score highly or are for more than£350.
The system will go live within the next few weeks to coincide with the retailer’s web site relaunch.
UK Digital Cameras co-founder Andrew Showman said that the system will replace an informal arrangement it has with competitors to share data on fraudulent transactions. He urged others to sign up to the service, because the larger the data pool the more effective the system will be for everyone.