AmeriNet electronic checks expand online sales potential for CyberSource customers
MOUNTAIN VIEW, Calif. - December 12, 2002 - CyberSource Corporation (NASDAQ:
CYBS), a leading provider of electronic payment and risk management
solutions, today announced it is adding electronic check processor AmeriNet
to its list of payment solutions. CyberSource has offered electronic
checking since 1999. With the new AmeriNet option, CyberSource
clients will have another means of serving their U.S. and Canadian customers
who do not have or prefer not to use credit cards for online purchasing.
"Offering AmeriNet is in keeping with our policy of bringing our customers a
wide variety of choices in payment solutions," said Tracy Wilk, CyberSource
vice president of product management. "In the bricks and mortar world,
checks can account for over 20% of a merchant`s sales volume. Why should
online businesses choose to ignore that potential? "
CyberSource`s AmeriNet electronic checks solve a number of common problems
associated with taking checks: Transactions are automatically reconciled and
settled; Fed errors, such as late and duplicate returns, are disputed and
managed directly by AmeriNet; returns and consumer disputes are cleared and
settled through AmeriNet originating banks. The AmeriNet solution also
operates independently of any existing credit card banking relationships
merchants may already possess, with deposits flowing electronically into any
existing bank account. Transaction information is integrated into the
merchant`s CyberSource reports and supplemented with reports from AmeriNet.
"We`re excited to be able to offer CyberSource merchants the added payment
solution of eChecks from AmeriNet," said David Kerlin, President of
AmeriNet. "AmeriNet eChecks will enable more customers to purchase even more
products from e-commerce sites. eChecks enable online merchants to offer
flexible payment options - just as bricks and mortar retailers do - which
creates a potential to increase the merchant`s customer base."
About AmeriNet
AmeriNet, Inc. is an industry-leading payment solutions provider to the
e-commerce and direct marketing industries. Founded in 1994, the company was
one of the first to provide direct electronic debiting over the web, and now
processes millions of eCheck transactions annually. AmeriNet is highly
merchant focused, providing a wide range of transaction validation,
authorization, warranty and settlement services, all on a highly customized
basis. For more information, please visit AmeriNet`s web site at
www.debit-it.com or call us at 800.800.0467
About CyberSource
CyberSource Corporation 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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( 2002CyberSource 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.
"Safe Harbor" statement under the Private Securities Litigation Reform Act
of 1995.
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) electronic checks expanding online sales potential for
merchants, and (2) whether electronic checks will enable more customers to
purchase even more products from e-commerce sites. Factors that could cause
actual results to differ materially from the forward-looking statements
include risks and uncertainties such as any unforeseen event or any
unforeseen technical difficulties related to the Internet as a whole or to
the CyberSource services in particular, the rate of spending by
CyberSource`s customers, the rate of internal spending, the pace of growth
of eCommerce, the development by CyberSource and its competitors of new
products and services, general economic conditions. And other risks
indicated in our filings with the Securities and Exchange Commission. 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, and our quarterly reports filed on Form 10-Q from time to
time, all of which identify important risk factors.
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