CyberSource, a leading provider of electronic payment and risk management solutions, has been selected by Travelex UK, the world's foreign exchange and business payments specialist, to help secure its online and call center payments.
CyberSource services selected by Travelex include electronic payment processing, risk management, and payer authentication. These were chosen to enable Travelex to grow its eCommerce channel to meet customer demand while minimizing the increased overhead of manual review.
Simon Leach, head of eCommerce at Travelex said, "We needed a secure, scalable payment solution to improve efficiency across the payments process, which is important as we grow our business. After considering a number of vendors, we selected CyberSource's flexible, cost-effective solution as it was the most capable choice to help support our future expansion plans."
CyberSource payment processing has been available to European merchants since 1997. CyberSource's Decision Manager is a fraud management portal that determines in real-time whether an order should be accepted, rejected or marked for further review, helping to streamline fraud management operations and reduce the cost of order review. CyberSource Payer Authentication offers additional verification of a cardholder's identity via the Verified by Visa and MasterCard SecureCode programs, helping to reduce the risk of fraud.
Simon Stokes, managing director at CyberSource, said, "CyberSource has a strong reputation among established financial service providers in helping them manage their high transaction volumes. We are glad to be part of Travelex's eCommerce environment and look forward to supporting the growth of their online business."