Tuxedo Money Plus Ltd., a prepaid card provider in the United Kingdom, will use antifraud services from Ethoca Ltd., a company based in Ireland, officials from the two companies tell CardLine Global. "Ethoca helps Tuxedo work with other companies to fight fraud," Andre Edelbrock, president and CEO of Ethoca, tells CardLine Global. "Ethoca provides Tuxedo with intelligence from securely shared transaction experiences from all of its members within the prepaid card industry and other industries around the world." Edelbrock declines to say how many other prepaid card providers use Ethoca's services, but he says the company works with the Royal Bank of Scotland and some smaller financial institutions. "Additional prepaid card providers have signed on and will be publicly announced soon," Edelbrock says. The deal with Ethoca runs for two years, a Tuxedo spokesperson tells CardLine Global. Tuxedo did not release transaction figures, but the spokesperson says the firm has experienced a 300% increase in business over the past nine months. "The expansion in our business has resulted in there being a greater need for deeper fraud data," the Tuxedo spokesperson says.
Authoritative analysis and perspective for every segment of the payments industry
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