Media and entertainment giant, WWE®, targets reduced fraud losses and increased revenue through Ethoca's collaborative fraud management platform.
Dublin, Ireland and Stamford, CT (PRWEB) March 5, 2008 -- Ethoca, the leader in collaborative fraud management, announced today that World Wrestling Entertainment, Inc -- a multi-media sports entertainment powerhouse -- has joined Ethoca's global network of fraud fighters aiming to grow their business opportunities and increase profits by deploying more effective risk management.
& quot;WWE's online merchandising business has been growing at over 40% annually, and is becoming a major source of profitability for us," according to Nick Rozdilsky, Vice President, E-Commerce. "We see real value in sharing our experiences as part of Ethoca's collaborative fraud management network to reduce fraud losses, increasing our revenues by safely accepting many orders now rejected, and reducing our costs with fewer manual reviews. Ethoca gives us a great opportunity to wrestle fraudsters into submission."
Online business leaders in industries ranging from 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. According to recent research, better fraud management can result in e-businesses recovering more than $30 billion in previously foregone annual revenue.
"We're excited to have a high-profile business leader like World Wrestling Entertainment join Ethoca's network because it helps raise awareness that almost all companies have growing online components today," said Andre Edelbrock, Ethoca's President and CEO. "It doesn't matter what your core business is, collaboration offers unique benefits in fighting fraud through faster detection and increased revenue opportunities. WWE is another significant addition to making our platform a truly global cross-industry effort to halt and reverse the growth in online fraud through our collaboration technology," said Edelbrock.
About Ethoca Limited (www.ethoca.com):
Headquartered in Dublin, Ireland, with offices in Toronto, Canada, Ethoca is the leader in collaborative fraud management. Ethoca enables businesses operating in any customer-not-present environment (i.e., business by internet, phone, fax or mail) to make more informed decisions about their customer transactions by sharing transaction experience data in a way that is secure, automated, effective and ethical. Businesses submit transaction data to Ethoca and can use summary history and analysis based on the collaborative data of Ethoca's clients to gauge the fraud-risk associated with any given transaction.
Ethoca's community includes a number of leading and recognized companies and payment and fraud solution provider partners from around the world.
Ethoca's clients increase profits by finding the optimal balance between allowed transactions and fraud-risk levels, and fraud management costs. Ethoca's use of independent third-party business process and data integrity audits ensures that the privacy and security of data is maintained. For more information about Ethoca visit www.ethoca.com.
About World Wrestling Entertainment, Inc.:
Additional information on World Wrestling Entertainment, Inc. (NYSE: WWE) can be found at wwe.com and corporate.wwe.com. For information on our global activities, go to http://www.wwe.com/worldwide/.
Trademarks: All WWE programming, talent names, images, likenesses, slogans, wrestling moves, and logos are the exclusive property of World Wrestling Entertainment, Inc. ECW is a trademark of WWE Libraries, Inc. All other trademarks, logos and copyrights are the property of their respective owners.
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