Credit and debit card fraud has become an international calamity with casualties reaching over $28 billion in recent years. Brazilian based ClearSale,which hosts a chargeback protection platform to combat fraud in the ecommerce sector, recently purchased a company that assists retailers in retail disputes. Chargebacks Ops, a merchant dispute company based in Utah, deals with issuing payments or credits to buyers who have been affected by unauthorized purchases usually associated with identity theft. The company received an offer of over $3.6 billion by ClearSale for an upcoming acquisition that would place the company in a top tier status in an industry that has been wrought with financial havoc.
ClearSale which boasts over 5,000 clients around the globe has been providing high level protection to global merchants consisting of fraud analysis, real-time data, as well as large scale digital transaction monitoring. At the completion of the sale, Chargeback Ops will retain their original trademark logo in addition to executive team members to include CEO Steve Fulling, VP Alan Hubbs, and Mike Williams, who held a previous CEO role at payment processor WorldWide Payment Solutions. ClearSale, which was founded in early 2000 by CEO Bernardo Lustosa has over 1,000 employees as well as several subsidiaries in a variety of software and beta learning spaces. The sale will place ClearSale among key players in the anti-fraud and anti-money laundering industries with their AI based technology.
