CyberSource Enhances Services to Help Merchants Comply With U.S. Regulations Prohibiting the Sale of Goods and Services to Terrorists and Other Restricted Parties
Real-Time Denied Parties Check Automatically Included
With Payment Authorization and Fraud Screening Services
MOUNTAIN VIEW, Calif., Oct. 1 --
CyberSource Corporation (Nasdaq: CYBS), a leading provider of risk management
and electronic payment solutions for enterprise businesses, and a pioneer in
Internet fraud detection, today announced that it is now offering a denied
parties check as an integrated feature of its payment and risk management
services to help businesses selling online and via call centers comply with
U.S. government regulations prohibiting the sale of goods, and services to
certain entities and individuals.
The denied parties check feature is an automated, real-time cross check of
online or call center orders against lists provided by the U.S. government of
designated parties to whom it is illegal to sell or ship goods, and, in some
instances, services. Updated as frequently as daily, the denied parties check
feature checks for matches with entities contained in lists issued by various
U.S. government agencies, including the Embargoed Countries, International
Traffic in Arms Debarment and Sanctions lists, and the Specially Designated
Nationals list, which was recently updated by Executive Order titled:
"Blocking Property and Prohibiting Transactions with Persons Who Commit,
Threaten to Commit, or Support Terrorism," issued by President George W. Bush,
September 24, 2001.
The denied parties check will be automatically applied when CyberSource
electronic payment or risk management service customers, who opt into the
offering, request a transaction authorization or fraud screen. With the
denied parties check as an integrated feature of CyberSource payment and risk
management solutions, enterprise businesses can better identify and reject
orders from customers with whom the U.S. government does not allow trade.
"We provide risk management and electronic payment solutions to thousands
of companies that sell products and services over the Internet and via call
centers," said Bill McKiernan, Chairman and CEO of CyberSource. "By
integrating the denied parties check feature as part of our standard payment
and fraud control services, it is our hope that we can help businesses more
easily comply with government regulations and help the country economically
isolate terrorists."
The CyberSource denied parties check feature will be available
October 3, 2001, at no additional cost to current and new CyberSource risk
management and electronic payment service customers. Businesses can also take
advantage of the Denied Parties Check feature by subscribing to the
CyberSource Export Compliance service.
The CyberSource Export Compliance service is designed to protect merchants
from unknowingly engaging in trade with parties that the U.S. government has
restricted trade. In addition to the denied parties check feature, the
CyberSource Export Compliance service uses shipping address, IP address and
email domain geo-location to help prevent digital and physical product
delivery to embargoed countries or to accommodate business and/or channel
distribution rules.
For more Information on recent export regulation news:
http://www.cnn.com/2001/US/09/24/ret.bush.transcript/index.html
For complete details on the Executive Order issued September 24, 2001:
http://www.ustreas.gov/ofac/
More on CyberSource risk management and payment solutions:
http://www.cybersource.com/solutions/
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 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.
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CONTACT:
Jennifer Jennings of 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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