MOUNTAIN VIEW, Calif. -- April 20, 2004 -- CyberSource Corporation (NASDAQ: CYBS) today announced it will bundle its powerful Smart Authorization fraud tools with its small business offering, CyberSource Small Business Edition, at no extra charge. Smaller merchants can now buy both payment and fraud screening at a price competitors charge for payment services alone. Also, the company has extended support to all leading online shopping carts.
CyberSource Smart Authorization features allow merchants easy access to and control over standard fraud checks offered by the card associations, plus additional value-added fraud checks from CyberSource. With these fraud control tools in place, merchants can now review orders that may deviate from the strictest standards, and accept those that are legitimate. Less sophisticated systems mandate an outright accept/reject choice based on crude approval criteria and can turn away a high percentage of good orders. Smart Authorization means considerable potential for conversion of order rejections to increased sales. The higher security of the value-added fraud control checks also mean resellers can earn more residuals and encounter fewer chargebacks.
"Payment and fraud management tools are inseparable if you want to successfully sell online today," said Tracy Wilk, CyberSource vice-president of product management. "That has been an established fact with larger enterprises for years. Smaller merchants are now realizing that in 2004 the fraud threat extends to their operations as well. Processing payments without fraud control tools obviously results in an increased fraud risk. Less obvious but just as serious is the risk of rejecting valid sales. We believe this bundled Smart Authorization service will greatly benefit the small business online community by limiting its fraud exposure and maximizing its potential sales."
CyberSource`s fraud prevention heritage serves merchants
The company pioneered Internet fraud detection in 1995 and since that time has provided risk management solutions to some of the world`s largest online merchants. Small businesses will benefit from the power of CyberSource`s payment and anti-fraud technologies as the company continually refines solutions based on analyzing hundreds of millions of transactions per year.
An independent survey conducted in 2003 by Mindwave Research shows CyberSource merchants review 40% fewer orders, reject 37% fewer orders, and incur 40% lower fraud rates overall. The result: savings in processing time and staff costs, and fewer losses to fraud.
Part of complete, powerful, reliable and easy-to-sell small business package
CyberSource Smart Authorization comes as part of one of the most complete and reliable small business payment solutions available, CyberSource Small Business Edition [http://www.cybersource.com/products_and_services/small_business_edition/].
Advantages of the solution include:
Payment choices: In addition to standard credit cards, Small Business Edition merchants may also accept PayPal from their customers. A recurring billing solution using Cyber Source TotalCollect technology will be available to Small Business Edition users this summer.
Industry-leading uptime: The CyberSource eCommerce platform delivered 99.99% uptime for all of 2003.
Secure datacenters and transactions: CyberSource datacenters are Visa Cardholder Information Security Program (CISP) and Visa Account Information Security (AIS) certified. CyberSource Small Business Edition uses industry standard security technologies for secure transmission of data. Built-in transaction monitors validate the source of order initiation to guard against programmatic hacker attacks.
Easy implementation: Small Business Edition comes in a variety of formats from the simplest web-based virtual terminal (requiring no development) to ready-to-implement shopping cart integrations, hosted order pages, and direct integrations into the merchant website. The program includes a web-based management "dashboard" and free support from CyberSource`s award-winning customer support team.
Easy channel selling: CyberSource provides all support, billing, and collection activities, leaving the channel free to sell. Merchant boarding and tracking tools are streamlined and simple. Marketing materials are provided.
Competitive pricing: CyberSource Small Business Edition carries competitive pricing with other leading brands that offer payment only not the full package with built-in fraud tools and other powerful features listed above.
CyberSource Small Business Edition is available now and will be demonstrated in the CyberSource booth (#613) at the Electronic Transactions Association Annual Meeting and Expo in Las Vegas beginning April 20th. The recurring billing solution for Small Business Edition will be available in the summer of 2004.
CyberSource Corporation is a leading provider of electronic payment and risk management solutions. CyberSource solutions enable electronic payment processing for Web, call center/IVR, and POS environments and manage fraud risk associated with card-not-present transactions. CyberSource Professional Services designs, integrates, and optimizes enterprise-wide commerce transaction systems. Approximately 4,000 businesses use CyberSource solutions, including half of the Dow Jones Industrial companies. 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 www.cybersource.com or email email@example.com.