Equifax acquires chargeback fraud prevention firm Midigator
Consumer credit reporting agency Equifax is set to acquire post-transaction fraud mitigation solutions provider Midigator.
The deal, the terms of which are undisclosed, will expand Equifax’s global footprint in digital identity and fraud prevention, the firm says.
Looking at the rise of transaction disputes and chargebacks amid a surging $5.5 trillion global e-commerce market, Equifax believes Midigator’s automated, data-driven chargeback management solutions will complement its anti-fraud Kount Identity Trust Global Network.
Once the deal is complete, Midigator will become part of the Equifax United States Information Solutions (USIS) business unit, which leverages artificial intelligence to link billions of digital data points worldwide.
Sid Singh, president of USIS at Equifax, says: “Many organisations are in markets that weren’t prone to friendly fraud before. Now they are.
“We’re seeing strong demand from clients and partners for digital identity and fraud prevention solutions that encompass the entire customer journey, specifically around the desire to mitigate and manage post-transaction issues,” Singh adds.
Midigator’s technology platform automates the chargeback dispute response process and provides real-time data to businesses on why chargebacks occur.
Since its founding in 2013, Midigator claims to have prevented more than 2.7 million chargebacks.