New "Protected Buy" Seal Designed to Reassure Consumers That Fraud Prevention Precautions Are in Place and eCommerce Transactions Are Securely Processed
London, 17 November, 2000 - CyberSource Corporation (Nasdaq: CYBS), a leading provider of mission-critical eCommerce transaction services, today announced the launch of its Protected Buy Program for businesses selling online. The program was developed to give consumers an easy way to identify online businesses that are employing state-of-the-art fraud prevention and security measures that offer their customers safer online shopping.
A Protected Buy seal on the merchant site signals to consumers and would-be perpetrators that merchants are taking specific, concrete measures to prevent fraud and securely process transactions. Installation and implementation of the CyberSource Internet Fraud Screen is a requirement for enrollment in the Protected Buy program because it detects warning signs indicating identity theft or potentially fraudulent orders and alerts merchants in real-time before the questionable sale takes place.
"Card issuer organisations reported that online credit card purchases amount to less than five percent of all credit card transactions, but account for over 50 percent of fraudulent transactions," commented Joseph Merino, Internet Commerce Analyst at Current Analysis, Inc. "CyberSource continues to exercise a leadership role in risk management services for Internet purchasing. To reduce the risk of credit card fraud and risks associated with purchasing goods from online businesses that have not implemented good practices, consumers can now look for the CyberSource Protected Buy seal when shopping online."
"Fear of fraud is still inhibiting many potential online shoppers. Merchants can now let shoppers know about the precautions they take to provide a secure online shopping experience," said William Donahoo, Vice President of Marketing for CyberSource. "The CyberSource Protected Buy Program gives merchants a way to communicate their commitment to processing secure transactions and engender the same level of confidence in an online transaction as with an in-store transaction."
For complete information about the Protected Buy program and requirements, visit http://www.cybersource.com/protectedbuy.html
CyberSource is a leading developer and provider of enterprise eCommerce transaction services, and a pioneer in the area of Internet fraud detection. More than 3,000 businesses throughout the world have chosen to use the CyberSource eCommerce Transaction Suite. The CyberSource eCommerce Transaction Suite offers customer-controlled, real-time services including, payment, tax calculation, stored value, risk management and fulfillment management. CyberSource Global Professional Services develops comprehensive eCommerce solutions that are built upon CyberSource’s mission-critical transaction services and tailored to each customer environment to provide security, reliability, and extensibility for rapid growth. Customers and partners of CyberSource include leading Internet etailers, retailers, manufacturers and businesses selling online including Ashford.com, BUY.COM (U.S. & U.K), Compaq Computer, Home Depot, Mercata.com, Nike.com, Remedy and VerticalNet. CyberSource Corporation is headquartered in Mountain View, Calif., and has offices in Japan and the United Kingdom, as well as various other locations throughout the United States. The company can be found on the World Wide Web at www.cybersource.com. CyberSource information is also available via email at firstname.lastname@example.org or email@example.com
(c) 2000 CyberSource Corporation. All rights reserved. CyberSource is a registered trademark of CyberSource Corporation in the U.S. and other countries. The Power Behind the Buy Button is a registered service mark of CyberSource Corporation in the U.S. CyberSource eCommerce Transaction Suite is a service mark of CyberSource Corporation. All other brands and product names are trademarks or registered trademarks of their respective companies.
* Source: Current Analysis Advisory Report: Holiday Season 2000: Online Retail Fraud - A Case of Caveat Emptor, 10/00.
The recommendations in this release are based upon CyberSource’s experiences with online businesses but in no way should be construed to be guarantees, individually or in the aggregate, against fraud or financial or legal liability. Furthermore, nothing contained in this release should be construed as legal advice. Please consult your attorney for any questions regarding a merchant’s compliance with laws and regulations.
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