CyberSource will buy up to $15 million of its common stock.

CyberSource Corporation announced that its Board of Directors hasapproved a new stock repurchase program authorizing the company to purchase up to $15 million of its common stock. CyberSource will fund the program with available cash on hand and may repurchase shares in the open market from time to time based on market conditions and other factors. The plan will be effective through March 31, 2009 reported the company through PRNewswire.

"These are historically challenging times for the global economy, but our business continues to perform well. This latest action demonstrates the Board's belief in the continued success of the company and the long term value it will bring to investors," said Bill McKiernan, chairman and chief executive officer of CyberSource. 

In 2008, year to date, CyberSource has used approximately $9,997,005 to repurchase 704,925 shares pursuant to prior repurchase plans authorized by the Board.