Australian secure payments data platform Eftsure has boosted its coffers with a $2.5 million capital raise, with the additional funding to be used to accelerate growth and to meet the demand for its protection platform for the fight against payment fraud, which cost Australian businesses losses of $1 billion in direct costs alone to cybercrime in 2018, including payment fraud.

Australian secure payments data platform, EFTsure, is collaborating with professional services firm PricewaterhouseCoopers Australia in a move aimed at helping clients to mitigate the risk of fraudulent or erroneous business payments in the electronic payment process.