CyberSource(R) Upgrades UK Payment Gateway to Support Fraud Detection Initiatives
Payment Gateway Support for AVS, Card Verification and ECI Demonstrates
Commitment to Reduce the Risk of Credit Card Fraud for Businesses Worldwide
MOUNTAIN VIEW, Calif., May 8 --
CyberSource Corporation (Nasdaq: CYBS), a leading provider of electronic
payment and risk management solutions for enterprise businesses, today
announced that it has upgraded its payment gateway in the UK to fully support
a number of industry initiatives designed to reduce fraud in Credit Card Not
Present (CNP) sales channels, such as Internet stores, call centers and IVR
systems. The upgraded infrastructure now supports the Address Verification
Service (AVS), card verification and the Electronic Commerce Indicator (ECI).
This move illustrates CyberSource`s continued commitment to provide domestic
and international businesses the infrastructure necessary to securely and
reliably process payments while reducing the risk of fraud.
Neil Cook, managing director, CyberSource UK said, "Through support of
these initiatives, along with the advancement of CyberSource`s robust risk
management products, such as CyberSource`s fraud screen product and its Risk
Manager platform, CyberSource continues to demonstrate its commitment to help
protect businesses worldwide from the burden of CNP fraud. We are confident
these new enhancements will provide more value to our payment service
customers by helping reduce chargebacks and minimize product loss."
Details of the most recent initiatives supported by the upgraded
CyberSource payment gateway in the UK include the following.
-- Address Verification Service (AVS) checking for UK bank-issued cards --
allows verification of the billing address details provided by the
cardholder, with the actual billing address details held on file by the
cardholders issuing bank. This real-time check will now be carried out
as part of the authorization process facilitated by CyberSource and a
response, based on the validity of the provided address, will be
returned to the merchant. Although not foolproof, this check will
allow merchants to better control fraud exposure through the knowledge
that the billing address given by the consumer can be verified as
genuine for that card.
-- Card Verification -- a system introduced by several card brands to
assist the acquiring bank, issuing bank and merchant in validating CNP
transactions. The check is based around three or four additional
digits, distinct from the account number, that are printed on the front
or back side of the card. They do not appear either in the magnetic
stripe or chip. These digits help validate the card as genuine and
assist in determining that the consumer is actually in possession of
the physical card. As a measure to reduce the risk of fraud, merchants
can request these card verification digits on their website payment
page or verbally as part of a telephone order. This code is now
authenticated as part of the standard authorization process facilitated
by CyberSource with the card-issuing bank in the UK.
-- Electronic Commerce Indicator (ECI) -- an indicator flag for all
transactions that are generated via e-commerce. This flag is intended
to identify to the banking network all e-commerce transactions,
allowing card schemes to properly monitor transaction volumes and the
associated fraud risk.
These enhancements build upon the tremendous value already provided by the
CyberSource Payment Service, which includes unparalleled U.S. and
international processor support as well as support for over 120 currencies
worldwide.
Current CyberSource customers can take advantage of the newly supported
initiatives through the same CyberSource Application Programming Interface
(API) already installed on their sites, increasing the functionality provided
by CyberSource without incurring further implementation or development
efforts.
The CyberSource Payment Solution
The CyberSource payment solution, available as an outsourced service or
in-house managed software, operates behind-the-scenes to authorize and settle
electronic payments through built-in connections (via the domestic and
international CyberSource payment gateways) with third-party processors and
merchant banks. Developed for large enterprises with demanding needs,
CyberSource payment solutions support web, call center, IVR and POS sales
environments. CyberSource payment solutions integrate smoothly with major
commerce platforms, ERP and CRM systems, and are designed for compatibility
and interoperability with new standards and products. Both CyberSource
software and outsourced payment service options provide real-time, multiple
currency support and integrate seamlessly with CyberSource`s risk management
solutions, giving businesses a powerful way to protect against losses from
fraud.
Further, with the CyberSource Payment Service, enterprise businesses can
rely on fast, secure, reliable, electronic payment service, worldwide, without
the complexity of maintaining an in-house system.
Additionally, CyberSource is the only payment transaction provider in the
industry to utilize a highly secure Public Key Infrastructure (PKI)-based
cryptographic security model to authenticate and secure 100 percent of the
transactions processed on behalf of its more than 3,000 customers worldwide.
Unlike other security solutions, such as basic username and password
authentication, which typically consists of only eight characters and can be
compromised by "hackers", the CyberSource system utilizes a private key, known
only by the merchant, with over 1,024 bits of data to authenticate each
transaction, making it virtually impossible to penetrate.
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 centre/IVR, and POS environments.
CyberSource professional services designs, integrates and optimises
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.
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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