iVeri Payment Technologies Partners with CyberSource to Bring Global eCommerce Fraud Management Solution to Africa

Sandton, South Africa —November 15, 2012 —

iVeri, a leading electronic payment solutions company in Africa, today announced a partnership with CyberSource, a global payment management provider and Visa owned company. In partnering with CyberSource, iVeri can bring the most complete fraud prevention solution to its retail customers in Africa.

The iVeri Payment Gateway provides a best-of-breed eCommerce solution for merchants in Africa and is used by acquiring banks in six countries across the continent. By integrating CyberSource Decision Manager, iVeri has empowered its merchant base with world‘s largest fraud detection radar, bringing insight from over 60 billion global transactions processed by Visa and CyberSource annually—as well as advanced online fraud detection technologies, such as device fingerprinting. Merchants can detect online fraud in real-time and convert genuine orders faster, whilst bringing their customers peace-of-mind.

Barry Coetzee, iVeri’s CEO, said, “South Africa is experiencing double digit online retail growth and we are keen to address the risk of cybercrime. Most online merchants in the country are small and medium sized businesses needing scalable and convenient payment solutions with effective fraud protection technology. At iVeri we understand the evolving needs of our retail customers and are committed to empowering them with proven tools that help enable a powerful online presence. We are excited to deliver CyberSource’s fraud management solution to our merchants, helping them to make smarter business decisions in real-time, and ultimately reduce the risk of fraud.”

“At CyberSource, we are proud to partner with iVeri and bring our sophisticated fraud management solution to Africa’s online retail community,” said Lee-Anne Porter, head of business development for Sub-Sahara Africa at CyberSource. “We are dedicated to providing the most comprehensive, effective payment management solutions, allowing merchants and banks to detect more fraud, sooner, whilst delivering a seamless, secure online shopping experience.”

About iVeri

iVeri creates technology for financial institutions and businesses to facilitate multiple-channel transaction acceptance. Our goal is to help our customers create a profitable and sustainable business by enabling them to implement the correct transactional channels for their market environment.

iVeri has been developing electronic payment technology since 1998. Today, iVeri process millions of transactions and has customers in several countries. iVeri is a proven provider of best-of-breed multiple channel transaction technology.

For additional information on iVeri, please visit http://www.iveri.com.

About CyberSource

CyberSource, a wholly-owned subsidiary of Visa Inc. [NYSE: V], is a payment management company. Over 370,000 businesses worldwide use CyberSource and Authorize.Net brand solutions to process online payments, streamline fraud management, and simplify payment security. The company is headquartered in San Francisco and maintains offices throughout the world, with regional headquarters in Singapore (Asia Pacific); Tokyo (Japan), Miami/Sao Paulo (Latin America and the Caribbean), and Reading, U.K. (Europe/Middle East/Africa). CyberSource operates in Europe under agreement with Visa Europe. For more information, please visit www.cybersource.com/mea.

Media Contacts:

Sunayana Kripalani
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Global Corporate Relations:

Aida Hadzibegovic