PayPal have agreed to acquire the Simility fraud prevention and risk management platform, for around $120 million. They say that the acquisition of Simility will enhance PayPal’s ability to deliver fraud prevention and risk management solutions to merchants globally.
“Digital commerce has exploded, and fraudsters have taken note, adapting and developing new methods to carry out their crimes. PayPal has been at the forefront of developing innovative fraud prevention and risk management solutions for nearly 20 years, and now, merchants will be able to configure those solutions to manage the unique complexities of their businesses. Together with Simility, we will be able to put more control in the hands of our merchants to fight fraud while helping make commerce experiences faster…
