Ethoca, a division of payments giant Mastercard, has revealed that it’s extending one of its ongoing collaborative initiatives, which allows Microsoft Corporation customers to get convenient access to digital or online receipts.
Users may access the digital receipts provided by Ethoca via their regular mobile-based banking apps.
“Ethoca is [looking forward] to working with Microsoft to solve this challenge upstream — in the bank’s mobile app where consumers have the instant purchase clarity they need to avoid making a false claim.”
“The only way the industry can solve this growing and costly problem is through industry-wide collaboration between card issuers, merchants and card brands sharing purchase insight in real time through the channels customers know and trust.”
Stuart Dwyer, payments director at Microsoft Corp., noted that the deal or partnership is consistent with the tech giant’s goal of offering the best possible customer experience, including Microsoft’s Azure-powered digital receipt and purchase information.
Dwyer also mentioned that better information about financial transactions when there’s any doubt or uncertainty, like when the customer is trying to check or verify their card statements, can be quite useful when making purchases via the internet.
“It also ties in with Microsoft’s commitment to provide customers with insights on how to prevent fraud by using tools such as spending notifications or spending limits, available for example via Xbox family settings.”
As noted on its official website, Ethoca is “the global network of banks and merchants driving a simple, trusted consumer payment experience through collaboration.”
The company aims to fight fraud, eliminate chargebacks, increase payment card acceptance, help firms recover revenue, and improve the overall user experience.