CyberSource(R) Adds Former Visa International and First Data Merchant Services Executive, Scott Loftesness, to Board of Directors
MOUNTAIN VIEW, Calif., Aug. 27 --
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 Scott Loftesness, a former
executive at Visa International and First Data Merchant Services, has joined
CyberSource`s Board of Directors.
In addition to filling the roles of group executive for First Data
Merchant Services and senior vice president at Visa International,
Mr. Loftesness has served as managing director at Fidelity Capital.
Scott Loftesness` career also includes senior line operating management
positions in payments, payment-related technologies, electronic commerce, and
IS/IT technologies.
"With his banking, payment industry, and card association experience,
Scott Loftesness brings a wealth of knowledge and expertise to our board. I am
confident his experience, knowledge and insight will help CyberSource continue
to deliver on its commitment to provide leading payment and risk management
solutions for enterprise businesses worldwide," said Bill McKiernan, Chairman
and CEO of CyberSource Corporation.
"CyberSource is very well positioned in the payment and risk management
industry. They have great technology, a world-class customer list and
excellent alliances, which allow them to play a critical role in this mission
critical area," commented Mr. Loftesness. "I am excited to have the
opportunity to assist in the company`s strategic decision making, especially
in its focus on providing outstanding payment and fraud solutions to
enterprise customers."
Loftesness joins board members Bill McKiernan of CyberSource,
Stephen Novak of C.E. Unterberg, Towbin, Richard Scudellari of Morrison
& Foerster LLP, Jack McDonnell, Jr., of Transaction Network Services, Inc.,
Kenneth Thornton, formerly of IBM, and Ken Harris of Gap Inc.
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
Liz Haas of Atomic Tech PR
+1-415-703-9454
liz@atomicpr.com
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