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Three of Australia’s largest retailers are set to increase their global, online retail presence following their enlistment of Visa’s CyberSource to provide secure eCommerce payment and fraud solutions.
FlightCentre, Cotton On and Kathmandu will use CyberSource to advance their global online stores, providing customers and retailers with a safe and secure means of processing domestic and international payments as well as reducing the incidents of fraud.
Already leading household names in Australian retailing, their partnership with CyberSource will enable their expansion into the international market, reducing payment risk for customers and minimizing fraud.
“With online fraud accounting for between one and two percent of all sales, businesses have been reticent to take the leap into growing their businesses on an international level,” Matt Marino, Regional Sales Director of CyberSource in Australia, said today.
“Keeping one step ahead of the bad guys is important if businesses are serious about expanding their operations beyond borders. Balancing the need to simplify customer’s online transactions with the commercial risks associated with online fraud and payment security just got easier.”
While the incidents of online fraud have reduced in the past twelve months, the losses in dollar amounts continue to rise1.
“Most online transactions are conducted in good faith but businesses’ reputations and integrity can be damaged by the very distribution channels they rely on to interact with their customers,” Mr Marino said.
“The Australian Federal Police recently launched an investigation into the theft of 500,000 credit card numbers resulting in $25 million lost in fraudulent transactions.
“Our clients collectively account for more than 5.5Billion transactions annually. Investing in CyberSource’s secure payment management services, to protect against such large-scale hacking and credit card fraud and reduce overall exposure to risk, makes commercial sense. They are now well-placed to securely expand their operations and take advantage of the business opportunities presented by the enormous growth in online retailing.”
CyberSource offers solutions to process online payments, streamline fraud management and simplify payment security.
More than 390,000 businesses worldwide use CyberSource and Authorize.Net.
With offices in all major countries CyberSource has become a leading force in reducing fraud, minimising merchants’ costs of expansion, and improving customer experience.
“Our global network means we are alert to any emerging threats and developments in online fraud, and uniquely placed to swiftly address them.
“Our Australian clients are already leaders in their fields. Now, by partnering with CyberSource, they will have the confidence and security measures in place to be able to rapidly expand beyond Australia,” Mr Marino said.
In 2010 airlines across the world lost $1.4 billion to online fraud. For Brisbane-based travel agency group, Flight Centre, recently named as Asia’s leading travel management company, it was CyberSource’s depth of experience in working with some of the world’s largest online travel and airline companies that impressed the company.
“We believe that with CyberSouce we can offer our customers a safe online payment system and additional convenience, as they will now be able to pay outside opening hours and without having to return to the shop to finalise their booking,” Flight Centre’s executive general manager, Rachel Miller, said.
Through CyberSource, Flight Centre will also access Verified By Visa, a complementary online authentification service, to provide additional validation and cardholder protection.
Clothing retailer, Cotton On has also commenced using CyberSource services for its retail brands in Australia and overseas as well as the charity arm of the company which operates as its own entity, Cotton On Foundation. Founded in Geelong, Australia in 1991, Cotton On has a significant presence in Australia, New Zealand, Singapore, Hong King, Malaysia, Germany, South Africa, Thailand and the US with more than 650 stores Australia wide and 350 international stores.
“Our agreement with CyberSource brings us opportunities to increase efficiency and expand our business,” said Tonya Higgins, Head of Digital for Cotton On. “It will allow us to manage cross-border transactions using an integration program for all countries and all currencies.”
Australia’s leading outdoor clothing and equipment retailer, Kathmandu, will use CyberSource’s payment and fraud management solutions for its online sales operation.
A brand name synonymous with quality clothing and travel gear, Kathmandu’s has expanded to 120 stores from around 50 about five years ago. Its online site has shown robust growth over the past year and Kathmandu’s partnership with CyberSource will underpin a planned expansion into the global market.
“We replatformed our existing site earlier this year, and CyberSource’s fraud management and payment processing will be a valuable contribution to improving the quality, security and overall experience for shoppers using our online shopping channel,” said Kathmandu’s General Manager of Business Development and Sustainability, Paul Stern.
1CyberSource eCommerce Fraud Survey 2012 (http://www.cybersource.com/news_and_events)
CyberSource Corporation, a wholly-owned subsidiary of Visa Inc., is a payment management company. Over 390,000 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/asiapacific.
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