March 7, 2006, 12:00 AM

CyberSource buys BidPay.com for $1.8 million

CyberSource Corp. has acquired BidPay.com from First Data Corp. for $1.8 million in cash. CyberSource plans to re-launch BidPay, a payment option for online auctions, in upcoming months.

 

CyberSource Corp., provider of electronic payment and risk-management solutions, has acquired BidPay.com from First Data Corp. for $1.8 million. CyberSource plans to re-launch BidPay, a payment option for online auctions, in upcoming months.

As part of the purchase, CyberSource acquired proprietary technology, databases and certain intellectual property rights, including exclusive rights to the BidPay.com brand. BidPay will operate as a wholly owned subsidiary of CyberSource.

CyberSource bought BidPay to expand its online payment services, a spokesman says. “In December of last year, First Data made a strategic decision to exit the online auction business and BidPay become available to us,” he says.

BidPay, launched in 1999, was one of the original payment options for online auctions. It had acquired 4 million registered users prior to ceasing operations in December, CyberSource said.

 

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Ken Burke / B2B E-Commerce

Thriving in the brave new world of B2B

As executives at manufacturers, wholesalers and distributors map out their e-commerce investments, they have many ...

FPO

Jodi Beuder / E-Commerce

Five customer service imperatives for Internet retailers

Based on an analysis of customer service data, Impact Learnings Systems highlights five areas e-retailers ...

Advertisement