New Functionality Allows Enterprise Businesses to Extend Reach to a Broader Customer Base and Increase Customer Satisfaction
MOUNTAIN VIEW, Calif., Aug. 1 -- CyberSource Corporation (Nasdaq: CYBS), a leading provider of risk management and electronic payment solutions for enterprise businesses, today announced its release of the CyberSource Payment Manager version 3.5, an enhanced payment processing software that now provides support for electronic checks. The new functionality allows enterprise businesses to offer customers multiple payment options, extending their reach to a broader customer base that includes purchasers who prefer to pay by check and/or do not have credit cards.
"Organizations such as telcos, utilities, government agencies and financial services companies have historically preferred checks when operating in the physical world," said Tracy Wilk, Vice President of Payment Product Management for CyberSource Corporation. "We`re pleased to extend the capabilities of the CyberSource Payment Manager so that these organizations can continue to offer their preferred payment method when they begin conducting business online and over the telephone. Additionally, despite the emergence of credit cards specially designed for procurement, checks continue to be the preferred business-to-business payment method."
Electronic checks are ideal for businesses that offer recurring billing or that wish to offer bill payment by electronic check in addition to credit, debit, procurement, or private label cards. Additionally, with electronic checks, businesses can realize lower transaction fees than those associated with credit cards, reduce or eliminate the inefficiencies associated with processing physical checks and invoices, and shorten the time needed for funds to be deposited into their accounts.
CyberSource Payment Manager version 3.5 now also provides support for dynamic "soft descriptors." Soft descriptors allow businesses to customize line-item descriptions on cardholder statements to include information such as the category of goods that were purchased and the merchant`s toll-free customer service number. By providing additional insight into each transaction, soft descriptors make it easier for consumers and corporate buyers alike to keep better purchasing records, increasing customer satisfaction and reducing merchants` customer support and dispute resolution costs.
The CyberSource Payment Manager version 3.5, designed for enterprise businesses with multiple sales channels processing large volumes of transactions, is now available. Both electronic check and soft descriptor features of Payment Manager version 3.5, are specifically accessible to organizations using Paymentech services for payment processing.
About the CyberSource Payment Manager
The CyberSource Payment Manager software is a powerful, transaction-processing server that supports all enterprise sales channels. It operates behind-the-scenes to authorize and settle credit and debit cards and electronic checks through built-in connections with third-party processors and merchant banks. The software integrates seamlessly with legacy front-end, financial management and customer relationship systems
More on CyberSource Payment Manager: http://www.cybersource.com/solutions/electronic_payment/solutions/software.xml
More on CyberSource payment solutions: http://www.cybersource.com/solutions/electronic_payment/solutions/
About CyberSource
CyberSource Corporation is a leading provider of risk management and electronic payment solutions for enterprise businesses selling via multiple sales channels. CyberSource solutions manage transaction risk and enable electronic payment processing for Web, call center/IVR, and POS environments. CyberSource professional services designs, integrates and optimizes enterprise-wide commerce transaction systems. Over 3,000 businesses use CyberSource solutions, including over half of the Dow Jones Industrial companies. The company is headquartered in Mountain View, California, and has sales and service facilities 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.
NOTE: CyberSource is a registered trademark in the U.S. and other countries. All other brands and product names are trademarks or registered trademarks of their respective companies.
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CONTACT:
Jennifer Jennings of CyberSource Corporation
+1-650-965-6042
jjennings@cybersource.com
Liz Haas of Atomic Tech PR
+1-415-703-9454
or liz@atomicpr.com
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