CyberSource and Visa Canada Bring Advanced eCommerce Fraud Detection System to Canadian Merchants
(MOUNTAIN VIEW, Calif. and TORONTO, ON) March 21, 2006 CyberSource Corporation (NASDAQ: CYBS) and Visa Canada today announced the availability of CyberSource Advanced Fraud Screen enhanced by Visa to the Canadian market. A comprehensive fraud detection service for online or phone-based businesses, the system examines online and telephone transactions, estimates the level of risk associated with those transactions, and provides merchants with risk scores and factor codes, enabling easier identification of potentially fraudulent orders.
"Online and phone transactions are a growing part of the Visa® business in Canada, and we want to ensure the future success of these areas," said Gord Jamieson, Director, Risk and Security, Visa Canada Association. "By working with companies like CyberSource to provide services such as the CyberSource Advanced Fraud Screen enhanced by Visa, we are helping to address security concerns around e-commerce, for merchants and consumers alike."
CyberSource Advanced Fraud Screen enhanced by Visa complements the other layers of the Visa fraud prevention program, which include the Account Information Security Program, Address Verification Service and the Card Verification Value 2 (CVV2) service. CyberSource and Visa Canada are also collaborating in Canadian eCommerce through implementations of the Verified by Visa® service. For further information on the many layers of Visa`s fraud prevention program, visit www.visa.ca/securewithvisa.
CyberSource Advanced Fraud Screen enhanced by Visa provides fraud risk prediction scores. It does so through behavioral scoring by assessing over 150 order variables such as Canadian and international address validation, order frequency, and order history. Risk scores are typically calculated in less than 2 seconds. The service is further enhanced by Visa`s Virtual Intelligence Risk Technology, which provides ongoing model updates using knowledge of global fraud trends and online and offline payment card usage patterns to improve fraud detection accuracy for card-not-present merchants. The combination of these systems means CyberSource Advanced Fraud Screen enhanced by Visa benefits from the market`s largest database of global fraud trends and global payment-card usage patterns, including online and offline transaction data. This service is a component of the CyberSource Decision Manager system and Managed Risk services. For more information go to
http://www.cybersource.com/products_and_services/credit_card_fraud_management/
"CyberSource`s latest survey of U.S. and Canadian e-commerce fraud shows online merchants are seeking more and more sophisticated tools to battle systematic fraud," said Perry Dembner, CyberSource vice-president, marketing. "Our experience with the product in the U.S. has shown that CyberSource Advanced Fraud Screen enhanced by Visa can be a powerful addition to the merchant arsenal."
Availability
CyberSource Advanced Fraud Screen enhanced by Visa is available in Canada now. It is part of the CyberSource Decision Manager system and CyberSource Managed Risk services. CyberSource Decision Manager, a proven fraud prevention program, delivers an easy-to-use web interface to set rules for all orders, a hosted decision system to automatically evaluate orders, and built-in case management for quick order review and disposition. CyberSource Managed Risk Services provide a complement of managed services for solution design and installation, ongoing performance monitoring and tuning, and order review outsourcing. For more information on how to sign up for the service, please visit www.cybersource.com.
About CyberSource
CyberSource Corporation (NASDAQ: CYBS) 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. Over 13,000 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 info@cybersource.com.
About Visa Canada
As the "World`s Best Way to Pay®," the Visa® brand is the leading payment brand in the world. Twenty-one thousand financial institutions worldwide rely on Visa`s processing system, VisaNet®, to facilitate $3.7 trillion (USD) in annual transaction volume with virtually 100 per cent reliability. The Visa brand has unsurpassed global acceptance at more than 24 million locations including close to one million ATMs. Within Canada, 23 Member financial institutions have issued more than 26 million Visa cards, accounting for $151 billion in sales volume for 2005. For more information, visit www.visa.ca.
2006 CyberSource Corporation. All rights reserved. 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.
®Registered Trademark of Visa International; Visa Canada is a licensed user
Contacts:
Bruce Frymire (650) 965-6042 or bfrymire@cybersource.com
Mei Ankrett (416) 860-8869 or mankrett@visa.com
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