Sift to Acquire Chargeback to Provide Complete Protection Against Payment Fraud
By Marc Olesen /
25 May 2021
At Sift, we follow a core set of values that guides us towards our goal of helping everyone trust the internet. Two of those values stand out today: Ever Better and Start with the Customer. The former means we strive to improve every day—for ourselves, for the company, and especially for our customers. We also aim to always put our customers first—to understand their challenges and solve their problems. We recognize that, in order to put a stop to fraud, fuel growth for our customers, and make the internet a safer place, it’s going to take breakthrough technology, a global community, and deep industry expertise.
Today, I’m proud to share that Sift has entered into a definitive agreement to acquire Chargeback, the pioneer in real-time dispute management for merchants, bringing us closer to stopping payment fraud entirely and helping our customers grow their businesses while providing exceptional customer experiences. With this move, merchants will gain access to Sift’s comprehensive Digital Trust & Safety Suite that addresses risk before, during, and after user transactions.
Whether it’s “true” fraud, “friendly” fraud, or one of the countless other fraud types that exist in the interconnected Fraud Economy, the addition of Chargeback’s team, technology, and partners enables us to give merchants enhanced tools and expanded strategies to fight all types of fraud and abuse while increasing revenue at every step of the customer journey.
This is truly a win-win. Sift will continue to be the first line of defense against fraudulent activity with the added benefit of Chargeback’s experience in the downstream effects of fraud, like disputes. And in the spirit of Ever Better and Start with the Customer, when both Sift and Chargeback are working with the same customer, it is a force multiplier. Customers receive industry-leading, machine-learning technology that maximizes revenue by quickly approving legitimate orders and avoiding fraud that can lead to chargebacks. And if chargebacks do happen, all of the necessary data is easily available so merchants can increase dispute win rates and help keep more of their hard-earned revenue.
So what’s next? For Sift customers who are interested in Chargeback’s solution, it’s easy to get started. Chargeback’s pre-built connector within the Sift Connect integration hub means you can quickly leverage Chargeback to retain revenue with higher acceptance rates and lower dispute rates. And for our mutual customers, you will benefit from having a single vendor with a complete, end-to-end fraud prevention solution, a global network of fraud fighters, and leading expertise in Digital Trust & Safety and dispute management.
In the near term, we’ll be working to bring the Chargeback brand under the Sift umbrella, combining teams, and ensuring that we continue to provide industry-proven fraud prevention to the world’s leading brands.
For more information about the acquisition, check out our press release. And for those who are interested in learning more about how the Sift Digital Trust & Safety Suite can help you protect and grow your business, drop us a line.
Marc is President & CEO of Sift. His operational experience and leadership helped Splunk, McAfee, and Dynatrace achieve scale during intense growth. He thrives in leading, connecting, and accomplishing great things as a team.