Founded by veterans of an elite technology unit in the Israeli Defense Forces, Fraud Sciences believed that online merchants should not be liable for credit card fraud - just like brick and mortar retailers. The Fraud Sciences solution provides merchants with 100% guarantee against fraud and chargebacks for all online credit card payments, domestic and international. Offering hassle-free, consumer-friendly service, Fraud Sciences enables online merchants to significantly grow business and enhance customer satisfaction.
When investing in Fraud Sciences in 2004, BRM recognized the scope of the fraud problem in online shopping, identifying the business potential of Fraud Sciences’ disruptive technology for domestic and international transactions. As the Fraud Sciences solutions gained acceptance, and demand for its solutions grew, the company decided to scale up its activity. To this end, a management change was decided upon, and Eli Barkat, Chairmen of the Board, stepped into to facilitate the transition and to lead the search for a new CEO. In 2007, Mr. Gadi Maier was appointed CEO to take the company to the next level, reach new markets and to create an international company.
Several months later PayPal, the global leader in online payment solutions and eBay company, took notice of Fraud Sciences’ superior risk mitigation tools, and quickly expressed an interest in acquiring the company. The integration of Fraud Sciences' risk tools with PayPal's sophisticated fraud management system would enable more effective protection for hundreds of millions of eBay and PayPal users. Under the guidance of Eli Barkat, intensive negotiations were conducted over the course of six months, and the acquisition was finalized in early 2008