FIRST DATA AND CYBERSOURCE TEAM UP TO EXPAND MERCHANT PAYMENT OPTIONS
New Services to Include TeleCheck Internet Check Acceptance“
Mountain View, CA- August 25, 2003-First Data and CyberSource, a leading provider of electronic payment solutions, today announced a strategic partnership to deliver enhanced payment options for CyberSource merchants. Beginning with a robust Internet check solution from TeleCheck, a subsidiary of First Data, the partnership will enable CyberSource merchants to take advantage of the First Data integrated payment solutions platform.
The TeleCheck Internet Check Acceptance (ICA“) service from First Data is now the preferred Internet check solution for CyberSource merchants. The ICA service provides Internet merchants access to the underserved market of customers who prefer to pay by check. Designed to be flexible and easy to implement, the ICA service can be tailored to meet the diverse needs of Internet merchants. The ICA service ensures quick and easy integration for all merchants, with implementation options that support a hosted model or Web services interface.
Merchants can accept customer checks, using the ICA service’s proprietary fraud prevention tools and databases, which reduce merchant risk through real-time authentication, account number screens and identity-based check writer files. In addition to the robust risk management capabilities, the ICA service is designed to meet requirements of Reg. E, FCRA and NACHA rules, which allow merchants to focus on making money instead of adhering to regulations.
"Internet merchants will not only have access to best-in-class Internet check services, but we’re building a foundation that enables them to easily add other alternative payment solutions," said Steven W. Klebe, vice president strategic alliances for CyberSource. "Our merchants will have a clear competitive advantage by using this suite of alternative payments."
As part of the longer-term vision, the First Data/CyberSource strategic alliance is designed to address one of the most pressing dilemmas facing merchants today—the need to continually expand and upgrade payment technologies to stay competitive while conserving financial resources. Through an integrated delivery strategy, First Data will allow CyberSource merchants to leverage a single technology solution that gives merchants easy, affordable access to existing payment services and emerging technologies.
"The relationship between CyberSource and First Data will accelerate the delivery of new Internet payment products and services to merchants while alleviating the historic headache of integration," said Margaret Weichert, vice president, Internet services for First Data. "The alliance combines First Data’s world-class processing options with CyberSource’s broad base of Internet merchants."
About First Data Corp.
First Data Corp. (NYSE: FDC), with global headquarters in Denver, helps power the global economy. As a leader in electronic commerce and payment services, First Data serves approximately 3 million merchant locations, 1,400 card issuers and millions of consumers, making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of payment. With 29,000 employees worldwide, the company provides credit, debit, smart card and stored-value card issuing and merchant transaction processing services; Internet commerce solutions; money transfer services; money orders; and check processing and verification services throughout the United States. First Data also offers a variety of payment services in the United Kingdom, Australia, Canada, China, Japan, Mexico, Spain, the Netherlands, the Middle East and Germany. Its Western Union and Orlandi Valuta money transfer networks include approximately 165,000 Agent locations in more than 195 countries and territories. For more information, please visit the company’s Web site at www.firstdata.com.
About CyberSource
CyberSource Corporation (NASDAQ: CYBS) is a leading provider of electronic payment and risk management 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.
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CONTACT:
Larry Reiff
First Data Media Relations
631.391.7544
larry.reiff@firstdata.com
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