Ethoca's Collaborative Fraud Management Network Joined by POSATEL

    The leader in collaborative fraud management, Ethoca, announced today that a Canadian processing software company, POSATEL INC, specialized in the provision of complete prepaid solutions at point of sale, is the latest to join the fast-growing global network of companies working together to fight fraud.

    Montreal-based POSATEL, with one of the largest independent networks of Point of Sale (POS) terminals in Canada, offers prepaid debit and payroll credit cards, providing consumers with the convenience of a cashless form of payment that limits spending to available funds and does not require access to a bank account. But with the rapid growth of prepaid cards - estimated at $63.4 billion business in the U.S. alone and expected to grow to $236 billion by 2009 - comes growing risk. Prepaid cards are a popular target for misuse, including fraudulent activation at point of sale.

    Charbel Fraifer, President, POSATEL INC. says: "POSATEL's mission is to provide retailers and consumers with fast, convenient payment solutions that offer significant benefits over conventional payment methods. To do that, we must confront the challenge of fraud head on. Ethoca's service will keep us one step ahead". "Ethoca's Collaborative Fraud Management network is the next frontier because it facilitates sharing experiences - not just with merchants and other payment processors, but cross-industry with anyone doing business online or in a Customer-Not-Present environment. POSATEL selected Ethoca to help us and our retail customers reduce fraud because we believe collaboration is the smartest way to level the playing field against fraudsters who've been working together for years. By letting retailers share experiences, not data, Ethoca has hit the nail on the head."

    Online business leaders in industries ranging from payments, gaming, retail, reverse logistics, consumer electronics and others see Ethoca's collaborative fraud management service as a way to inform their decisions and enhance their profitability on thousands of transactions every day. Ethoca is the only service that allows companies to benefit from the payment experiences of other companies. Accepting more of the "right" types of transactions increases revenue, and declining the "wrong" ones reduces losses and non-payment. Bbetter fraud management can result in e-businesses recovering more than $30 billion in previously foregone annual revenue, according to recent research.