CyberSource(R) and Arcot Systems Announce Strategic Agreement to Provide Businesses Selling Online With Verified by Visa
CyberSource to Offer Arcot TransFort(TM) With Suite of Electronic
Payment and Risk Management Solutions
MOUNTAIN VIEW, Calif., Nov. 7 --
CyberSource Corporation (Nasdaq: CYBS), a leading provider of risk management
and electronic payment solutions for enterprise businesses, and Arcot Systems,
Inc., a leading provider of solutions for securing e-business, today announced
the two companies have entered into a strategic agreement, whereby CyberSource
will resell Arcot`s TransFort(TM) Merchant Software with CyberSource`s
electronic payment and risk management solutions. This will provide
businesses selling online a comprehensive, integrated solution to take
advantage of Verified by Visa, a password-based authentication system for Visa
cardholders.
Verified by Visa is designed to bring the same level of payment card
security to the virtual world as Visa has in the physical world by confirming
to the e-merchant that the online buyer is the actual cardholder. This
program combines a complete business framework with technological innovations
that protect Internet-based payments on a global scale and vastly improves the
online payer authentication process.
In addition to completing the integration of Arcot`s TransFort software
with the CyberSource payment and risk management solutions, the two companies`
professional services staff will team to offer assistance for implementation
of the integrated solutions at merchants` sites.
"Verified by Visa is designed to enhance the security of online
transactions for consumers, merchants and banks," said Jeff King, Director of
Risk Product Management at CyberSource. "History has shown that effective
fraud management requires a multi-faceted approach. Working with Arcot and
Visa to integrate Verified by Visa functionality into CyberSource`s risk
management and payment solutions will allow merchants to take advantage of
Visa`s state-of-the-art authentication technology as part of a comprehensive
set of tools for protection against fraud."
CyberSource`s risk management and payment solutions, along with Arcot`s
TransFort Merchant Software -- the first solution to be named compliant with
the 3-D Secure protocol by the Visa Compliance Testing Facility -- will work
behind the scenes to activate Verified by Visa, which is based on Visa`s 3-D
Secure Interoperability Standard.
"We are pleased to be working with CyberSource, a market leader in fraud
detection, to provide online merchants with the market`s most complete and
reliable solution for Verified by Visa," said Chet Sylvestri, President and
CEO at Arcot Systems, Inc. "We are confident that this agreement with
CyberSource will help merchants reduce the high cost of online fraud,
chargebacks, settlements and disputes."
"Verified by Visa relies on the participation of vendors like CyberSource
and Arcot to help integrate the system for merchants handling online
`card-not-present` transactions and we are pleased to have the support of both
companies in our effort to reduce the risk associated with processing online
transactions and do so in a way that provides customers with a safe and
hassle-free online shopping experience," said Jim McCarthy, Senior Vice
President, e-Visa, a division of Visa U.S.A.
About Visa Authenticated Payment Program
Visa Authenticated Payment is designed to bring the same level of security
to the virtual world as Visa has in the physical world by confirming to the
e-merchant that the online buyer is the actual cardholder. The service
reduces disputes related to fraudulent Internet transactions, resulting in
increased consumer and merchant confidence in electronic commerce.
How it Works
Upon completion of the shopping and checkout process -- which remains
unchanged from the cardholder experience today -- the cardholder is asked to
confirm their purchase with their issuing bank. The issuing bank provides the
merchant with a confirmation that is validated by the merchant using a plug-in
software module, such as the integrated solution provided by CyberSource and
Arcot Systems. Upon validation, the merchant proceeds with the existing
authorization process.
More on Arcot Systems TransFort Merchant Software:
www.arcot.com/merchant
More on CyberSource risk management solutions:
http://www.cybersource.com/solutions/risk_management/
More on CyberSource payment solutions:
http://www.cybersource.com/solutions/electronic_payment/
About Arcot
Arcot Systems, Inc., is the leading provider of authentication and access
control solutions for securing e-business in Internet-scale, transactional and
wireless environments. Only Arcot provides cost-effective, scalable,
software-based solutions for strongly authenticating users and transactions
and managing access for payment systems, B2Bextranets, Web portals and virtual
private networks. Arcot solutions meet the business need for strong
transactional security while providing the customer a user-friendly experience
with anytime, anywhere convenience. Leaders in financial services, healthcare
and e-commerce are using Arcot solutions to protect their customers` privacy
and reduce fraud. For more information, visit www.arcot.com.
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
Doug Free of Arcot Systems, Inc.
+1-408-969-6243
dfree@arcot.com
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