CyberSource First to Enable New Fraud Screening Capabilities
CyberSource certifies to new American Express Internet data enhanced specification
MOUNTAIN VIEW, Calif., June 8, 2004
CyberSource Corporation (NASDAQ: CYBS), by certifying to an enhanced Internet data specification, has enabled its customers to take advantage of new internet fraud screen capabilities at American Express. Goals of the new program--reduced fraud, fewer chargebacks, and less manual intervention by merchants--all aimed at increasing merchant confidence and offering the cardholder a better experience. Merchants utilizing CyberSource's direct connection to American Express will enjoy the enhanced capability immediately.
"We at CyberSource work constantly to deliver the best in payment and fraud prevention," said Bill McKiernan, CyberSource chairman and CEO. "This new capability is designed to enable more effective eCommerce as merchants screen out more fraudulent orders, confidently take more good orders and reduce their total processing costs."
Merchants who choose CyberSource's direct connection to American Express have access to a variety of American Express fraud prevention tools, including Automated Address Verification (AAV), which verifies the address on purchaser's card is the same as the ship-to address, Enhanced AAV (which adds last name validation), and Automated Address Verification Plus (AAV+). AAV+ verifies the ship-to information is appropriate and offers the merchant a guarantee against chargeback.
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