Euro Car Parts is the UK’s leading distributor of parts for all makes of cars and light commercial vehicles. Established in 1978 by a young and enthusiastic 18 year old with help from his family and a small loan from Barclays Bank, today, Euro Car Parts has grown to over 9000 employees.
The company’s turnover is three times that of its nearest competitor, and to continue growing the business, the company needed to look beyond its home market and expand into new geographies.
At the same time, the company was experiencing increasing levels of fraud and chargebacks, particularly through its online channels.
Since crossborder payments have significantly higher fraud rate than domestic payments do, expanding into new markets would only increase this risk. To help meet its ambitious growth plans while at the same time reducing its exposure to fraud both at home and through its international online channels, the company decided it needed to engage with a new payments service provider.