CyberSource launches payment data management service in the UK
05 July 2006 | 1858 views | 0
CyberSource Ltd. today launched a new service to secure the storage and handling of electronic payment data for medium to large eCommerce merchants.
The new Payment Data Management service will enable merchants to process electronic payments without the risk of storing or even handling sensitive account information. CyberSource handles and stores all payment data on behalf of the merchant in security-certified processing centres that connect directly with the banking network. As a result, consumer payment information is safer, merchant risk decreases and merchants can achieve compliance with card association security rules more easily. This includes the Payment Card Industry Data Security Standard or PCI.
"Securing PCI certification is a complex and costly task for many merchants," said Nathan Jackson, managing director of CyberSource. "With the Payment Data Management service, we can simplify the challenge by helping merchants ensure the best possible security for their customers' data. Our merchants are now increasingly aware of the risks an intrusion could pose to their customers' trust and even to their brand's value. This new service substantially reduces merchants' risks of storing, processing and transmitting data because we manage those tasks in our PCI-certified datacentres."
Hosted payment acceptance and secure storage offered Payment Data Management consists of two services, Hosted Payment Acceptance and Secure Storage. Using Hosted Payment Acceptance, merchants outsource the checkout page of their web store, allowing CyberSource to manage the acceptance and processing of the eCommerce transaction. When customers hit the buy button, CyberSource collects the actual payment data, processes the transaction, and securely stores the data for any subsequent payment action, such as a credit. Merchants never see or touch the sensitive payment data. The checkout page can reflect the look and feel of the rest of the merchant's web site, thus making the outsourcing of the page seamless to the consumer, or it can be made obvious to the purchaser that they have arrived at a page managed within the secure processing network.
The merchant can employ either option.
Secure Storage is solely focused on the storage of payment and related consumer transaction data. Merchants can capture the eCommerce transaction as they normally do, using their own checkout page. However, after transmitting the data for processing, CyberSource stores the payment data on behalf of the merchant in PCI certified processing centres. The merchant is no longer exposed to the risk associated with storage of payment data.
Secure Storage can be used on its own or as a part of the Hosted Payment Acceptance service and supports single transactions, recurring billing, and instalment payments.