ResultsAustralia
Prezzee Faces Major US Fraud, Reports AU$79.2M Loss
Australian-based Prezzee's customers buy and send digital gifts from ~1,400 retailers ranging from Coles Group in Australia to SEPHORA in the USA (where over half its revenue comes from). It's been hit by significant fraud in the USA on up to 30% of transactions (that levels 0.3% to 0.7% in Australia). The fraud's driven a statutory loss of Au$79.2 m for the 18 months to December (after an Au$38.9m loss in the previous financial year). Total card sales were $3.4bn in 2023 after selling $1.1bn in 2022. -
