CyberSource(R) Unveils New International Services Suite to Help Merchants Transact Worldwide Orders Without Fear of Fraud
New Suite Features Essential International Payment, Fraud Detection And
Compliance Services to Enable Safe, Worldwide Order Acceptance
MOUNTAIN VIEW, Calif., May 14 --
CyberSource Corporation (Nasdaq: CYBS), a leading provider of risk management
and electronic payment solutions for enterprise businesses, today launched the
CyberSource International Services Suite, the industry`s most comprehensive
suite of international fraud detection, order verification, and payment
services. The new suite allows U.S.-based merchants to expand market reach,
and automatically transact sales worldwide via web or call center, while
significantly reducing exposure to fraud and costly manual order review.
"Fraud attempts are 40 percent higher for international orders than
U.S.-based Internet orders," said Jeff King, director of product management at
CyberSource. "Because the risk of fraud is so high, merchants often choose to
restrict international sales or manually review international orders. Our new
International Services Suite provides the essential services merchants need to
automatically transact and validate orders originating from international
locations and also helps merchants comply with export regulations. And,
because the suite can be used by itself, or easily integrated with our
CyberSource Risk Manager decisioning system, merchants can add international
order capability quickly and easily."
Robust Suite Meets International Fraud and Order Verification Needs
The new CyberSource International Services Suite features over five
essential international services and real-time order validation functions,
including fraud detection, consumer geolocation, delivery address validation,
export compliance, and payment.
-- CyberSource Advanced Fraud Screen enhanced by Visa: provides fraud
risk prediction scores by assessing over 150 order variables such as
international address validation, international IP address verification
and order velocity. Highly accurate risk scores are typically
calculated in less than 2 seconds using industry-leading CyberSource
technologies, including the recently announced patent-pending fusion
scoring technology. The service is further enabled by Visa`s
patent-pending Virtual Intelligence Risk Technology, providing
continuous model updates which employ global fraud trends and online
and offline payment card usage patterns to improve fraud detection
accuracy for card-not-present merchants.
-- CyberSource Geolocation: can confirm a consumer`s specific geographic
location by automatically cross-checking email, phone and physical
address information against multiple international data sources and IP
address data.
-- CyberSource Delivery Address Validation (DAV): validates, corrects
and/or formats customer addresses in real time for over 200 countries
worldwide. DAV, which leverages Group 1 Software`s CODE-1 Plus
International address data quality solution, verifies addresses prior
to fulfillment, thereby reducing merchant costs associated with
incorrect shipping and post-order address correction.
-- CyberSource Export Compliance: helps merchants comply with
international distribution agreements and U.S. Government export
regulations by monitoring order acceptance in real-time against
distribution restrictions and an ever-changing list of denied
countries, businesses, or persons. CyberSource Export Compliance
leverages data sources from XPORTA Inc., a provider of global resource
management software.
-- CyberSource Payment and CyberSource Tax: authorizes and settles
electronic payments worldwide through built-in connections to U.S. and
international processors and merchant banks. CyberSource Payment
supports over 120 currencies worldwide. The suite also includes
CyberSource Tax, a real-time, worldwide tax calculation service which
leverages Taxware`s WorldTax System to support sales/use tax and VAT in
over 100 countries and approximately 60,000 jurisdictions.
Availability and Implementation Options
The CyberSource International Services Suite, which can be integrated with
current merchant systems, or added as a module to the CyberSource Risk
Manager, is planned to be available in May 2002. CyberSource Risk Manager, the
industry`s first extensible decision management platform designed expressly
for the commerce transaction process, allows merchants to centrally configure
and control the entire commerce transaction process via a single interface.
Using Risk Manager, merchants can tailor and expand order acceptance practices
via CyberSource and third-party modules, as well as custom-built in-house
rules and tests.
More on CyberSource risk management solutions:
http://www.cybersource.com/solutions/risk_management/
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 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.
Statements in this release that are not purely historical are
forward-looking statements, including any statements regarding beliefs, plans,
estimates, projections, expectations, goals or intentions regarding the
future. Forward-looking statements in this release include statements
regarding (1) the ability of the services to reduce exposure to fraud and
manual order review processes, (2) the speed and ease with which the services
can be integrated with other CyberSource products, (3) general performance
qualities of the services, (4) how CyberSource products and services are
regarded in the industry, and, (5) availability dates. Factors that could
cause actual results to differ materially include risks and uncertainties such
as any unforeseen event or any unforeseen technical difficulty related to the
Internet as a whole or to the CyberSource services in particular and the
development by CyberSource and its competitors of new products and services.
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, 2001, filed with the Securities and Exchange Commission on
March 27, 2002, which identifies important risk factors.
CONTACT:
Jennifer Jennings
CyberSource Corporation
+1-650-965-6042
jjennings@cybersource.com
or
Liz Haas of Atomic tech PR
+1-415-703-9454
liz@atomicpr.com
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