CyberSource merchant customers in UK can now offer PayPal as payment option
MOUNTAIN VIEW, Calif., August 25, 2005 -- PayPal (Europe) Ltd. has signed an agreement with CyberSource Corporation`s United Kingdom subsidiary, CyberSource Ltd., that will enable CyberSource merchants in the UK to offer PayPal as an online payment method. CyberSource merchants in the United States have had this capability since October 2003.
PayPal has nearly 79 million accounts worldwide and provides a safe, easy and convenient method of payment on the web. Considerable motivation exists for eCommerce merchants to add new ways for their customers to pay: Research conducted for CyberSource by Quality Research Associates indicates that merchants who offer three or more payment types experience up to a 20% lift in conversion of shoppers to buyers.
Nathan Jackson, managing director at CyberSource Ltd. said, "The merchants we work with are always looking for ways to make transactions simpler, quicker and more convenient for their customers. PayPal has become one of the Internet`s biggest success stories by offering exactly these qualities, so it is a very natural partnership for us."
CyberSource provides multiple global payment and risk management services for some of the world`s most successful online businesses. Using a single connection for multiple payment types, CyberSource merchants easily integrate new payment and risk management solutions into their existing systems, and grow seamlessly as demand increases for their products and services. More information about CyberSource`s PayPal offering is at:
http://www.cybersource.com/products_and_services/electronic_payments/paypal/
About CyberSource
CyberSource Ltd. is a wholly-owned subsidiary of CyberSource Corporation (NASDAQ: CYBS). CyberSource 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 10,000 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 www.cybersource.com or email uk@cybersource.com.
Editorial Contacts:
Bruce Frymire
CyberSource Corporation
650.965.6042
bfrymire@cybersource.com
© 2005 CyberSource Corporation. All rights reserved. CyberSource is a registered trademark in the U.S. and other countries. CyberSource eCommerce Transaction Suite is a service mark of CyberSource Corporation. All other brands and product names are trademarks or registered trademarks of their respective companies.
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