Miami-based e-commerce fraud protection platform ClearSale has announced the acquisition of enterprise chargeback management service provider ChargebackOps of South Jordan. ChargebackOps manages credit card chargeback operations for a large number of clients, including major firms like Columbia Sportswear, Chico’s and Tractor Supply Co.
The transaction calls for an initial payment of $3.6 million and two more installments of up to $600,000, contingent on the company’s performance in the next 24 months.
“Chargebacks are an enormous and growing problem for e-commerce merchants,” said Rafael Lourenco, executive vice president and partner at ClearSale. “Supply chain issues and friendly fraud are climbing, with 45 percent of chargebacks now attributed to delivery delays. Retailers need a comprehensive answer to protecting their businesses from unwarranted chargebacks, and with this acquisition, ClearSale will have end-to-end solutions to do that.”
ChargebackOps will continue to operate under its own brand and will be led by the same executive team, including founder and CEO Steve Fulling.
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