Viaplay First Russian Merchant to Transact Using CyberSource Payment Management Platform
- CyberSource brings eCommerce payment management capabilities to Russia
- New CyberSource through VisaNet programme now available to enable merchant transactions
- Viaplay first merchant to transact from recently launched Russian web store: www.viaplay.ru
MOSCOW — 21 May 2012 —
CyberSource, a Visa company, today announced that Viaplay is the first merchant in Russia to transact using CyberSource's eCommerce payment management platform. Viaplay offers subscribers access to thousands of hours of streamed movies and on-demand TV via the internet, and recently launched in Russia.
Acquired by Visa Inc. in 2010, CyberSource is one of the world's largest providers of eCommerce payment management services. The company brings extensive online payment, fraud management and payment security solutions and expertise to organisations looking to boost revenues by extending their eCommerce capabilities. Glenbrook Partners LLC estimates that Russia's eCommerce market will be worth over US$24.5 billion in 20151, highlighting the increasing importance of this sales channel.
Steven Parker, Group Country Manager, Russia, CIS and South and Eastern Europe, at Visa said: "eCommerce in Russia is growing alongside the non-cash payments industry and is gradually becoming as integral a part of everyday life for Russians as purchasing goods in the real world. According to RBK Research Group2, Russia's eCommerce market was worth 366,3 billion rubles in 2011, having grown 26% on the previous year. The figures show demand for eCommerce is growing in Russia and Visa is poised to offer up-to-the-minute and secure technologies that will support further industry development."
CyberSource connects directly to VisaNet, allowing acquiring banks to use their existing VisaNet connection when adopting CyberSource's eCommerce solutions. Viaplay was therefore able to utilise its VisaNet processor, UCS, to access CyberSource's payment services, making implementation straightforward. Viaplay can benefit from a highly reliable, scalable and secure online payments infrastructure; its customers benefit from a seamless, safe online shopping experience.
Simon Stokes, Managing Director, EMEA, at CyberSource said, "We are very pleased to welcome our first CyberSource through VisaNet customer in Russia. Our secure payment management solutions can help merchants and banks tap into the global eCommerce opportunity, allowing them to capture and keep more revenue, whilst offering consumers convenience and peace of mind."
About Visa Inc.
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks –VisaNet– that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.
CyberSource, 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/ru.
Viaplay is part of Modern Times Group, the international entertainment broadcasting group with the largest geographical broadcast footprint in Europe. MTG's Viasat Broadcasting broadcasts more than 60 own branded channels and attracts a total of 125 million viewers in 35 countries. The pay-TV channels are distributed on Viasat's own satellite platforms in nine countries, as well as on third party broadcast networks (including cable, satellite and IPTV) and over the open internet. MTG is also the largest shareholder in Russia's leading independent television broadcaster (CTC Media – Nasdaq: CTCM). For more information, visit www.mtg.se.
United Card Service, established in 1992, is a leading payment processing company in Russia, which services more than 30 per cent of international and local bank card merchant acquiring volume in the Russian Federation. The company, which has over 40 years of experience in the industry, provides payment processing services for the major international payment schemes. UCS also processes proprietary cards for merchants, such as gift cards, loyalty cards, and fleet cards. United Card Service's headquarters is located in Moscow. At present, the company has branch offices in 35 cities. For more information, visit www.ucs.su.
1eCommerce Market Analysis — Russia, Glenbrook Partners LLC, 2011
2Russian Online Retail in 2011. Future of the Market — RBK Research
CyberSource, a Visa company
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