Cybersource

It was announced that shareholders of electronic payment processor a Mountain View –based CyberSource have approved the acquisition of the company by San Francisco-based Visa for $2 billion. The deal was announced in April, when Visa agreed to pay $26 per share for CyberSource. The purchase is expected to be completed today, on July 21. 

It is expected that fraud prevention technology of CyberSource will help Visa to boost the online use of credit, debit and prepaid cards that bear its name.

UK merchants say online fraud is the greatest threat they face, according to the Sixth Annual UK Online Fraud Report, an independent survey undertaken by CyberSource Ltd, the UK-based CyberSource subsidiary. Merchants stated that they lost an average of 1.8% of online revenue to payment fraud in 2009.

The collaboration between CyberSource Corporation, a leading provider of electronic payment and risk management solutions, and Delego Software allows now to merchants that employ SAP software as their business foundation to add payment capabilities more easily. The new software-as-a-service (SaaS) capability, in which CyberSource hosts the SAP-certified DelegoSRV integration, allows merchants to

The Merchant Risk Council (MRC), a merchant-led trade association focused on electronic commerce risk and payments globally , today announced that they are providing content and speakers for the Customer Not Present (CNP) Payment Forum May 11-13, 2009 in Barcelona, Spain.

The MRC has developed three unique sessions in partnership with the CNP Payment Forum:

§ Understanding the DNA of e-Commerce Fraud

Mindwave Research for CyberSource came up with a survey conducted in December 2008. This survey reported that online merchants lost $4 billion to fraud in 2008. The interesting tendency was also observed: while the rate of fraud was the same as it has been since 2006, but e-commerce is still growing. As a result the fraud rate caused more lost dollars.