CyberSource And Verifone Partner To Streamline Omni-Commerce

CyberSource, a Visa company, and Verifone announced a partnership today (June 3) aimed at helping merchants streamline the purchase experience across multiple retail channels — better known as omnichannel commerce.

The partnership between the two companies will help integrate industry-leading platforms and help Verifone connect its POS gateway with CyberSource’s global merchant payment management platform in order to help accelerate the payment process for merchants’ customers. In a joint news release about the deal, the companies expressed that the partnership will also enable merchants to offer a single platform to protect customer payment data, mitigate fraud, and integrate digital and offline payment systems.

“As consumers shop and pay in multiple channels, merchants continue to look to integrate their payment systems in a way that produces a single view of their customers and keeps payment data safe,” said Andre Machicao, Senior Vice President of CyberSource, in a company press release. “Through this partnership, we are bringing together two industry leaders to create a powerful offering that ultimately helps merchants develop a full view of their customer interactions on which they can more confidently build their relationships with consumers, manage their business holistically, and with insight, lead to increased customer loyalty, across all commerce channels and without sacrificing security.”

A recent study by CyberSource and Retail Systems Research shows that merchants have prioritized keeping consumer payment data safe. In that survey, 59 percent said that protecting customer payment data and managing fraud was a top priority; another 57 percent said integrating new digital payments and legacy payment systems was another and finally, 52 percent of those surveyed said they want to make it easier for customers to pay with online and mobile devices.

Moreover, with the U.S. EMV merchant-liability shift hitting in October, retailers are having to deploy EMV-compatible POS solutions; the companies said this partnership can help accelerate and alleviate some of the associated challenges for those merchants.

“Verifone and CyberSource are brands that merchants know and trust for their ability to deliver secure and reliable payment acceptance in the online and brick-and-mortar retail worlds,” said Vin D’Agostino, executive vice president of Commerce Enablement for Verifone. “This exciting partnership will enable merchants to leverage the assets and experience of two established leaders and drive a multi-layered approach to security across all sales channels, tighten relationships with their customers online and offline, and provide amazing experiences at the point of sale, rivaling the experiences they are able to create online.”

By connecting Verifone’s POS gateway with Visa’s CyberSource global merchant payment management gateway, it will help bring that cross-channel payment solution to more merchants across the globe where CyberSource and Verifone have a presence. This integration will happen starting September 2015. Perks of the integration, as highlighted by the two companies, include the ability to:

  • Accept cross-channel payments and centralize transaction reporting to increase customer engagement, enhance marketing insights, and streamline payment reconciliation.
  • Mitigate online fraud risk via use of CyberSource Decision Manager, the world’s largest fraud detection radar that applies over 260 fraud screens and includes insights from over 60 billion transactions processed annually by Visa and CyberSource.
  • Keep consumer payment data safe and simplify payment security management by keeping sensitive payment data off merchants’ networks.
  • Take advantage of an end-to-end EMV-certified solution to streamline PCI compliance management for merchants.

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