American Express Company (AXP - Free Report) recently teamed up with Ethoca, the leading provider of partnership-based technology solutions to help its U.S. merchants and card members resolve their card purchase issues in a fast and convenient manner. The company has used the Ethoca Eliminator solution in its latest step to help consumers reduce their expenditure and valuable time, which they spend on handling disputes.
With the aid of this solution, American Express can assist U.S. merchants by offering them real-time, detailed and comprehensive transaction information. This would be highly useful for those who connect with the customer service because they do not get an understanding of a particular charge from their account.
The Ethoca Eliminator platform fetches information from consumers, who are using the tool, which allows the company’s Customer Care Professionals to relay the same information to the card member who has called. The company has plans to offer this facility online during the first half of 2019 so that card members can check their transaction details.
This impressive Ethoca Eliminator tool complements Ethoca Alerts, which is being currently used by American Express for notifying merchants about fraudulent transactions. When a particular user receives such confirmation through Ethoca Alerts, he or she then has full control to stop the shipment of those orders and even provide refunds if required.
For American Express Ethoca’s platform is best suited as the latter is highly commited to provide a hassle-free process to merchants for resolving discrepancies.
The company has made multiple updates over the past few years on its disagreements and chargeback policies. It has constantly put in efforts to improve and enrich the experience for its merchants.
Some of its most noteworthy measures are the attempt to resolve disputes before getting in touch with the merchants for supporting information, offering options to merchants in terms of appealing for chargebacks, decreasing the number of times a merchant can face a dispute for the same charge and getting rid of chargebacks if a dispute lasts more than 120 days from the transaction date.
Last year, the company’s merchants saw 700,000 fewer disputes owing to such policy changes.
Stocks to Consider
Investors looking for some impressive stocks in the same sector may consider options like On Deck Capital, Inc. (ONDK - Free Report) , Euronet Worldwide, Inc. (EEFT - Free Report) and Total System Services, Inc. (TSS - Free Report) .
On Deck operates as an online platform for small business lending in the United States, Canada and Australia. The company pulled off an average three of the trailing four-quarter positive surprise of 58.34%.
Euronet provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers worldwide. The stock delivered an average beat of nearly 0.38% in the last four quarters.
Total System provides payment processing, merchant and related payment services to financial and nonfinancial institutions globally. The company came up with an encouraging earnings surprise of 7.67% over the preceding four quarters.
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