Through this transaction, PayPal plans to deploy Simility technology within its on-line payment service to better detect online fraud and improve risk management.
In part, the takeover of Simility was motivated by the increase in electronic fraud by over 30% in the United States in 2017.
Simility technology is based on artificial intelligence (IA) with learning capacity and would allow traders to adjust their anti-fraud controls according to the type of product they sell. And according to PayPal plans, it would go into use immediately after the transaction, in the coming months.
It is the company's fourth transaction last month, part of a larger expansion plan for the industry. For this purpose, PayPal has formed a series of partnerships to enable it to provide services such as, for example, money transfer between merchants and customers