CyberSource names Scott Cruickshank president and COO; David Hansen president, BidPay

Source: CyberSource

CyberSource Corporation (Nasdaq: CYBS), a leading provider of electronic payment and risk management solutions, today announced an expansion of its management team, appointing two payment industry leaders to new executive posts.

Scott Cruickshank has been named president and chief operating officer of CyberSource. David Hansen was appointed president of BidPay.com, Inc., a wholly-owned subsidiary acquired by CyberSource on March 7, 2006. Both of these are new positions reporting to Bill McKiernan, chairman and CEO of CyberSource. Mr. Cruickshank will oversee all activities related to CyberSource sales, marketing, and customer support. Mr. Hansen will direct all functions at BidPay.

"I am delighted to welcome Scott and David to CyberSource," said Bill McKiernan, chairman and CEO of CyberSource. "Both of these individuals bring with them a powerful combination of deep payment industry experience, management skill, and passion for CyberSource and its business. We are expanding our executive team to match an expanding market opportunity, and Scott Cruickshank and David Hansen will play key roles in taking CyberSource to the next level of market leadership."

Cruickshank has been a member of CyberSource's Board of Directors since August of 2005 and will remain on the Board. He was most recently president and chief operating officer of Qsent, a privately-held provider of contact data authentication services. Prior to Qsent, Cruickshank served as chief marketing officer at Paymentech, L.P., now Chase Paymentech Solutions, L.L.C., where he led that company's sales, customer care, marketing and service operations functions. Chase Paymentech is currently one of the largest merchant acquirers in the U.S. Before Paymentech's acquisition of Bank One Payment Services in 1999, he was Senior Vice President of First Data Merchant Services and served as managing partner of Bank One Payment Services. Cruickshank represented First Data Corporation in its partnership interest in Bank One Payment Services, a joint venture between First Data Merchant Services and Bank One. He also held the positions of vice president of acquirer relations for MasterCard International and director of business development for MCI Telecommunications Partner Marketing channel.

David Hansen was most recently vice president and general manager of BidPay as well as vice president, global operations for First Data's Western Union subsidiary. Prior to BidPay, he served as vice president in the areas of new product development and operations for First Data's payments group. Hansen's career at First Data/Western Union spanned over 19 years.

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