CyberSource Corporation announced yesterday that Visa International has made a significant equity investment in CyberSource in order to help foster a more profitable online commerce environment for member banks and their Internet merchants. A leading provider of electronic commerce solutions, CyberSource designs, develops and markets CyberSource on-demand commerce applications, a portfolio of solutions ranging from secure online payment, a highly accurate fraud screening application and secure digital delivery.
“CyberSource’s product line, the satisfaction of its customers, and the strength of its management team are all areas that we reviewed during our investment process,” said Todd Chaffee, Executive Vice President, Corporate Development and Alliances, Visa International. “This investment will enhance our collaborative activities focused on delivering more powerful and profitable e-commerce solutions to Visa member banks and their customers.”
In addition to the equity investment, the two companies have begun exchanging data and expertise. Future coordinated activities aimed at enhancing the viability of online shopping for Visa member banks and their merchants are currently in the planning stage.
“CyberSource has worked closely with Visa over the last few months, and we are pleased to be recognized as a strategic partner in Visa’s endeavors to make the Internet a safer, easier place to do business,” said Bill McKiernan, President and CEO of CyberSource. “There are many areas where we can work together, from shielding Web merchants and their banks from Internet credit card fraud to implementing more robust payment capabilities to help merchants come online faster and less expensively.”
About CyberSource on-demand commerce applications
CyberSource on-demand commerce applications enable businesses to securely sell products and services via the Internet, worldwide. Using CyberSource on-demand commerce applications, businesses automate operations and gain the benefits of outsourcing complex Internet commerce infrastructures, without giving up flexibility and control. Using messaging software installed on a commerce server (or URL link from a web page to a secure order page hosted at CyberSource) businesses remotely access any or all CyberSource on-demand commerce applications, including:
* CyberSource GeoPay; high-performance global payment processing gateway
* CyberSource IVS; Internet fraud screen
* CyberSource GlobalTax; real-time sales & VAT tax calculation
* CyberSource TerritoryManager export compliance and distribution control
* CyberSource NOTIFY; secure fulfillment messaging — EDI and e-mail
* CyberSource SmartCert; secure digital delivery
CyberSource also offers the following services:
* CyberSource Global Rights Registry Services, for digital property management and digital warehousing
* CyberSource Professional Services, for E-commerce implementation
CyberSource is a global provider of on-demand commerce applications and digital rights management services that enable Internet merchants to securely conduct business online in real time. Global, on-demand commerce applications include a high performance payment gateway, Internet fraud screen, real-time export compliance and territory management, fulfillment messaging and digital delivery applications; as well as rights management services for digital property. Leading web merchants use CyberSource on-demand commerce applications to securely transact from hundreds to tens-of-thousands of orders per month, representing over $250 million dollars of Internet commerce. CyberSource’s customers include Adobe, Autodesk, Beyond.com, Buycomp.com, Cahners, Compaq, IBM/Lotus, K-Tel, Liquid Audio, Microsoft, Netscape, Network Associates, Pantone, Playboy, Qualcomm, Surplus Direct, Symantec, and T. Rowe Price. Founded in 1994, CyberSource is a privately-held company headquartered in San Jose, California and maintains offices in the United States and Europe, along with a network of virtual data centers around the globe to service local markets.
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