Ethoca renames its digital purchase service, adds merchant logos

Ethoca renames its digital purchase service, adds merchant logos

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Toronto-based Ethoca is seeing rising demand from banks and merchants for granular details about purchases, so it’s renamed and tweaked its service delivering digital details.

Consumer Clarity, formerly called Eliminator, now makes it easier for consumers to see merchants’ names and logos on their digital banking apps so they can recognize their own purchases faster, Ethoca said in a Monday press release. Mastercard purchased Ethoca in 2019 for an undisclosed sum.

As part of the upgrade, Ethoca will now insert merchants’ logos into its enriched transactions information, which provides the merchant’s name, local and contact detail for more than 145 million merchant locations in more than 200 countries, the release said.

Ethoca’s merchant-detail service, introduced two years ago, helps reduce calls to customer service centers and chargeback disputes for participating financial institutions and merchants, Ethoca said in the release.

“As the [new] name of Consumer Clarity suggests, it puts the needs of consumers first to solve for one of the biggest problems in digital commerce and banking today — a lack of purchase transparency,” said Andre Edelbrock, Ethoca’s co-founder, who is executive vice president of security and cyber-innovation at Mastercard, in the release.

American Express recently announced the expansion of its Digital Receipts service for credit card customers, leveraging technology from Ethoca and also Visa-owned Verifi, to provide an itemized digital receipt of a transaction. Google, Apple and Microsoft and all purchases from Square merchants are providing full digital transaction receipts for e-commerce purchases for Amex customers through Amex’s card apps.

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