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PayPal Inks Partnership Deal with CyberSource
READING, UK, 11th August, 2005
PayPal (Europe) Ltd. has signed a partnership agreement with CyberSource Ltd. to enable CyberSource's customers to accept payments via PayPal. CyberSource, a leading provider of electronic payment and risk management solutions, will now offer this service to merchants in the UK, alongside its existing broad portfolio of payment methods.
The deal provides CyberSource's customers with simple access to one of the fastest growing forms of payment on the Web. By offering PayPal as a payment option, merchants can simplify the shopping experience for their customers, maximising sales.
Alessandro Hatami, head of merchant services, UK, at PayPal commented, "Based on CyberSource's roster of brand-name customers, and continuing success in this region, it seemed like the natural choice for us in the UK. Through CyberSource we can extend the reach of PayPal to a wider range of online merchants both large and small."
Nathan Jackson, managing director at CyberSource said, "The merchants we work with are always looking for ways to make transactions simpler, quicker and more convenient for their customers. PayPal has become one of the Internet's biggest success stories by offering exactly these qualities, so it is a very natural partnership for us."
CyberSource provides multiple payment and risk management services for some of the world's largest and most successful businesses. With a single interface for multiple payment types, merchants can easily integrate CyberSource's payment and risk management solutions into their existing systems, and scale seamlessly as their requirements change.
About PayPal
PayPal (Europe) Ltd. is a UK-based company, regulated by the FSA. It is a subsidiary of PayPal (International) Ltd., which is based in Dublin and is in turn a subsidiary of PayPal Inc. of San Jose, California.
PayPal is 100% owned by eBay. The PayPal business was set up in the US in December 1998 and acquired by eBay in 2002. PayPal can be used to make online payments both on eBay and on the internet in general. You can pay anyone with an email address in the 56 countries that accept PayPal. More information about the company can be found at https://www.paypal.co.uk.
About CyberSource
CyberSource Ltd. is a wholly-owned subsidiary of CyberSource Corporation. CyberSource is a leading provider of electronic payment and risk management solutions. CyberSource solutions enable electronic payment processing for Web, call centre, and POS environments. CyberSource also offers industry leading risk management solutions for merchants accepting card-not-present transactions. CyberSource Professional Services designs, integrates, and optimises commerce transaction processing systems. Approximately 10,000 businesses use CyberSource solutions, including half the companies comprising the Dow Jones Industrial Average. The company is headquartered in Mountain View, California, and has sales and service offices in Japan, the United Kingdom, and other locations in the United States. For more information, please visit CyberSource's web site at www.cybersource.com or email uk@cybersource.com.
Editorial Contact:
Bruce Frymire
CyberSource Corporation
650.965.6042
bfrymire@cybersource.com
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