Eye on Acquisitions: Sift Embraces Chargeback, While GreenBox Buys an ISO

Sift Science Inc. has agreed to acquire Chargeback Inc., a specialist in applying dispute-resolution technology to help merchants resolve chargebacks. Terms were not announced. The deal comes as card-not-present fraud in particular is soaring as consumers over the past year have adopted online shopping, many for the first time. U.S. fraud losses in this channel totaled $7.2 billion in 2020, up 29% from 2019, and are expected to reach nearly $8 billion this year, according to estimates from Aite Group, a Boston-based consultancy.