Established over 17 years ago in Brazil, ClareSale is a fraud prevention and management firm born out of the need to counter issues faced by e-commerce merchants.
The company said Australia made sense to launch given that in 2017 fraudulent transactions resulted in $561 million lost to retailers.
Card-not-present fraud accounted for $478 million of the amount and is a key part of ClearSale’s detection and prevention solutions.
Card-not-present fraud occurs when valid card details are stolen and used to make purchases without the card, usually online or by phone.
The fraud technology by ClearSale is compatible with major shopping carts and e-commerce platforms allowing merchants to implement the solutions effortlessly.
ClearSale’s founder and chief executive Pedro Chiamulera said the company had extensive experience and were constantly innovating.
“We are constantly innovating to improve our technology, ensuring our clients get the best in class solutions to counter CNP fraud,” Mr Chiamulera said.
“Clients often forget that the cost of fraud goes beyond monetary losses and ultimately affects reputation. We aim to offer our clients a fully outsourced fraud protection solution, that allows them to maintain that level of trust between retailer and consumer,” he said.
The company’s Australian operations will be headed by partner and executive vice-president at ClearSale Rafael Lourenco.
"We’re thrilled to work with Australian merchants and help them curtail and eliminate e-commerce fraud. In 2017 alone, card-not-present fraud accounted for 85 per cent of all fraud in Australian card transactions," he said.
“There is already a growing pool of clients in Australia who recognise the urgency to protect their businesses from the increased threat of fraud. The company is now operational in the US, the UK, Mexico, Brazil and Australia with plans to expand globally.”
Eliot Hastie is a journalist on the wealth titles at Momentum Media.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).