Access to over 190 countries including China, Brazil, India, Mexico; new
payment services in Europe
Integrated fraud prevention, secure storage capabilities
MOUNTAIN VIEW, Calif., April 25 /PRNewswire-FirstCall/ -- CyberSource
Corporation (Nasdaq: CYBS), today announced a major enhancement to its
global payment capabilities, expanding the international payment reach of
its eCommerce merchants and simultaneously adding anti-fraud and security
measures. A single connection with CyberSource now provides on-demand
access to processing services for payment cards, direct debits, and bank
transfers in over 190 countries. The global payment services are backed by
new fraud screening capabilities that allow merchants to effectively manage
online payment risk across different international markets. The newly
expanded services also include secure payment data storage allowing
merchants to transact globally without storing sensitive payment data on
their networks.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990513/CYBRSOURCELOGO )
"U.S. eCommerce will grow over 18% in 2007 according to Forrester
Research," said Scott Cruickshank, president and COO of CyberSource.
"Within Europe, 2007 eCommerce growth rates are forecasted at 27%.
Merchants want to pursue markets beyond U.S. borders easily, safely, and
with real security. Our goal is to provide eCommerce merchants with
products and services that enable them to accept payments from consumers
virtually anywhere in the world. This enhancement to our global
capabilities is an important step towards that goal."
Reaching more customers in more countries
Many U.S. merchants have limited their access to this global eCommerce
opportunity by accepting only payment methods common in the United States.
But many of the world's consumers prefer other payment methods. In many
countries, popular or even dominant payment methods include bank transfers,
direct debits, and locally or regionally issued bank cards such as Maestro,
Carte Bleue, CartaSi, Dankort, Solo, Laser, etc. Accepting locally
preferred payment methods can be a costly and complex enterprise requiring
months and even years of effort. Some countries require local presence
before merchants can accept direct debits, bank transfers and certain
payment cards; some require one or more local banking relationships and
processing connections to gain market coverage. CyberSource's global
payment services shield merchants from the daunting complexity of
international eCommerce. Now, one connection with CyberSource provides both
the payment network access and banking relationships required to tap global
markets, often without requiring the merchant to establish a local
presence.
Merchants working through CyberSource can readily accept transactions
online from over 190 countries. Among the newest connections are Brazil,
Mexico, and India. The direct debit payment method, popular in Austria,
Germany, the Netherlands, and Spain is currently supported, and is being
extended to the U.K. In addition to current support for standard bank
transfers in over 50 countries, online bank transfers are now supported in
Austria, Belgium, China (termed Chinese Debit Card), Denmark, Finland,
Germany, Netherlands, Norway and Sweden.
Reaching customers safely
A key concern for merchants conducting global eCommerce is higher fraud
rates. According to CyberSource's 8th Annual Online Fraud Report, merchants
say the rate of fraud associated with international orders is
two-and-one-half times as high as domestic orders. CyberSource global
payment services include Decision Manager, a merchant-friendly fraud portal
with the ability to define business rules by country and payment type.
The newly-designed hierarchical management structure of Decision
Manager allows merchants to easily manage worldwide order activity and
multiple, country-specific screening profiles through one central rules
management and review system. In addition to purchase-velocity monitoring
algorithms and over 100 validation tests, including IP geolocation and
international delivery address verification, this fraud management portal
now includes access to an international telephone validation database
covering over 100 countries. Merchants can fine tune decision accuracy by
supplying additional data from regional validation sources or customer
history files through the use of custom fields within the fraud management
portal. Verified by Visa or MasterCard SecureCode services are supported
worldwide -- particularly useful for merchants needing to comply with the
mandate requiring MasterCard SecureCode protection for online Maestro card
acceptance as of June 30, 2007. All of these capabilities are available to
merchants directly, or as a fully managed screening and order review
service delivered by experienced CyberSource fraud analysts.
"Our goal is not just to make the global eCommerce transaction easier,"
added Cruickshank, "it is to make it safer. CyberSource has always treated
payment acceptance and risk management as two sides of the same coin for
merchants, so we are taking that same approach as we help them go global."
Adding security to the global purchase
CyberSource now has payment data security services that accompany the
payment transaction to reduce risk and streamline mandated security
compliance as merchants conduct global eCommerce. With CyberSource's global
payment services, merchants can store payment data in CyberSource's secure
systems instead of their own systems. The risk of handling and storing
payment data is greatly diminished; "tokens" take the place of the data,
which are then used to initiate payment actions on the account. All global
payment types and checkout models are supported, including one-click buy,
subscription billing, single transaction purchases and credits. Data is
easily uploaded and retrieved through the single connection to CyberSource.
Merchants seeking Payment Card Industry certification will find these
services can accelerate and streamline their efforts.
Availability
CyberSource global payment services are available now. Support for
direct debit in the U.K. is planned for the latter half of the year. For
more information, please go to
http://www.cybersource.com/products_and_services/global_payment_services/.
About CyberSource
CyberSource Corporation is a leading provider of electronic payment and
risk management solutions. CyberSource solutions enable electronic payment
processing for Web, call center, and POS environments. CyberSource also
offers industry leading risk management solutions for merchants accepting
card-not-present transactions. CyberSource Professional Services designs,
integrates, and optimizes commerce transaction processing systems.
Approximately 20,000 businesses use CyberSource solutions, including half
the companies comprising the Dow Jones Industrial Average. The company is
headquartered in Mountain View, California, and has sales and service
offices in Japan, the United Kingdom, and other locations in the United
States. For more information, please visit CyberSource's web site at
http://www.cybersource.com or email info@cybersource.com.
"Safe Harbor" statement under the Private Securities Litigation Reform
Act of 1995
Statements in this release that are not purely historical are forward-
looking statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934, including,
without limitation, statements regarding the company's expectations,
objectives, anticipations, plans, hopes, beliefs, intentions or strategies
regarding the future. Forward-looking statements in this release include,
without limitation, statements regarding: (1) eCommerce growth rates in the
U.S. and Europe; (2) fraud rates; and, (3) CyberSource services
accelerating and streamlining Payment Card Industry certification efforts
by merchants. Factors that could cause actual results to differ materially
from the forward looking statements include risks and uncertainties such as
changes in Generally Accepted Accounting Principles and the application
thereof, changes in customer needs, new products and services offerings by
the company and its competitors, any unforeseen event or any unforeseen
system failures, and other risks indicated in our filings with the
Securities and Exchange Commission. It is important to note that actual
outcomes could differ materially from those in such forward- looking
statements. Readers should also refer to the documents filed by CyberSource
with the Securities and Exchange Commission, specifically the annual report
filed on Form 10-K for the year ended December 31, 2006, filed with the
Securities and Exchange Commission on March 13, 2007, and our quarterly
reports filed on Form 10-Q from time to time, all of which identify
important risk factors.
SOURCE CyberSource Corporation
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Related links:
http://www.cybersource.com/
Photo Notes:http://www.newscom.com/cgi-bin/prnh/19990513/CYBRSOURCELOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Bruce Frymire of CyberSource Corporation,
+1-650-965-6042, bfrymire@cybersource.com
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