The release pointed to the confusion around looking at one’s online statements, which can often be filled with brief purchase titles and uncertain or unrecognized transactions. This can lead to consumers contacting their banks, which could incur costs and waste time with unnecessary chargebacks.
Mastercard, through its collaborative fraud and dispute resolution technology Ethoca, will now offer a new version of online statements with added logos and clear business names for each transaction. The release said doing so is a way to both clear up confusion for customers and also to allow brands a way to establish more presence.
A study commissioned by Ethoca showed that 96 percent of U.S. respondents wanted more details on