Visa Acquires CyberSource to Accelerate Ecommerce Growth
Visa has agreed to purchase CyberSource, a provider of electronic payment, risk management and payment security solutions to online merchants.
CyberSource plays a role in processing approximately 25% of all ecommerce dollars transacted in the US. The company serves more than 295,000 merchants through its CyberSource and Authorize.Net branded solutions. CyberSource clients include British Airways, Home Depot, Facebook, Google and many small businesses.
The acquisition of CyberSource will result in a combination whose assets and expertise are expected to drive long-term growth by:
“Online commerce continues to grow rapidly, and this acquisition will enable Visa to offer new and enhanced services that will better meet the growing demand among merchants globally for robust, secure online payment processing capabilities which in turn will grow the entire ecommerce category,” said Joseph Saunders, chairman and chief executive officer (CEO) of Visa Inc. “With CyberSource, we are adding a new suite of leading ecommerce capabilities and experience in addressing ecommerce merchant needs. And, as ecommerce increasingly migrates to mobile devices, we believe the combination of Visa and CyberSource technology and services will position Visa to lead in mobile ecommerce.”
The two companies have partnered since 1999, and currently collaborate on risk models built into CyberSource’s automated fraud management solutions.