Equifax this week announced it has agreed to acquire chargeback management software provider Midigator. American Forks, Utah-based Midigator automates processes around managing disputed e-commerce transactions and chargeback prevention.
With the Midigator acquisition, Atlanta-based data aggregator Equifax continues to bolster its digital identity and fraud capabilities, building on the January 2021 acquisition of antifraud technology provider Kount. Like Kount, Midigator will operate as part of Equifax’s United States Information Solutions (USIS) unit.
“The New Equifax is much more than a credit bureau,” said Mark W. Begor, CEO of Equifax. “Midigator expands our robust differentiated data assets and Kount acquisition in 2021 to bring global businesses the information and solutions they need to better manage fraud across the complete customer lifecycle.”
The company notes that the number of consumers engaging in digital commerce will grow to more than 4.4 billion in 2025 from 2.6 billion in 2020. Fruad is expected to grow right along with e-commerce and chargebacks are often a business’s first indication that there has been fraud.
“We believe that Midigator’s chargeback representment and dispute management solutions are a strong complement to the current Equifax digital enablement and fraud control offerings,” said Brad Wiskirchen, general manager of Kount. “This acquisition will strongly position us for continued product innovation and provide our customers and partners with the advanced tools and insights they need to protect and recover revenue by combatting illegitimate chargebacks.”
The companies did not disclose financial terms of the acquisition.