PayPal acquires privately held Fraud Sciences

PayPal acquires privately held Fraud Sciences

eBay owned online payment-processing company PayPal has announced that they are now acquiring privately held Fraud Sciences.

Fraud Sciences is based in Israel and this deal is worth around $169 million.

PayPal said in a statement that the technology provided by Fraud Sciences is able to differentiate between real and fraudulent transactions with unprecedented accuracy.

This company is funded by BRM Capital, Redpoint Ventures along with some other parties.

PayPal added that this acquisition would further boost their trust and safety features on their own payment services.

PayPal President Scott Thompson added: “Integrating Fraud Sciences’ risk tools with PayPal’s sophisticated fraud management system should allow us to be even more effective in protecting eBay and PayPal’s hundreds of millions of customers around the world.”