I4 Commerce Inc., a developer of alternative payment solutions for merchants, and CyberSource Corporation (Nasdaq: CYBS), a leading provider of electronic payment and risk management solutions for enterprise businesses, announced the integration of I4 Commerce’s new payment method, “Bill Me Later,” into CyberSource’s payment processing service, providing online merchants with a powerful new tool to help boost sales and reduce transaction costs.
“With Bill Me Later, merchants can better meet the demands of today’s online shoppers for greater payment security, convenience and choice,” said Steve Klebe, Vice President of Strategic Alliances at CyberSource. “Most new payment options are introduced as separate technologies requiring significant implementation and maintenance resources. With this alliance, merchants gain access to Bill Me Later through their existing relationship with CyberSource, making the benefits of this new payment method easily accessible through our standard application programming interface.”
Bill Me Later simplifies the catalog and web purchase experience by eliminating the need for a credit card. Customers receive instant purchase approval during the checkout process without providing an account number or needing to complete a lengthy applications process. A monthly bill aggregates all purchases made at Bill Me Later Merchants, allowing the consumer to finance the purchase or pay the balance in full at no charge. Merchants receive authorizations, settlements and reporting in a manner similar to credit card transactions.
The CyberSource Payment Service
The CyberSource payment service operates behind-the-scenes to authorize and settle electronic payments through built-in connections with third-party processors and merchant banks. Developed for large enterprises with demanding needs, CyberSource payment solutions support web, call center, IVR and POS sales environments. The CyberSource payment service integrates smoothly with major commerce platforms, ERP and CRM systems, and is designed for compatibility and interoperability with new standards and protocols. It provides real-time, multiple currency support and integrates seamlessly with CyberSource’s risk management solutions, giving businesses a powerful way to protect against losses from fraud.
More on CyberSource payment and risk management solutions: .
More on Bill Me Later from I4 Commerce: .
About I4 Commerce
I4 Commerce provides payment solutions to merchants that make commerce more convenient and secure. The company has strategic relationships with the industry’s largest payment companies, including Paymentech and First Data Corporation. I4 Commerce holds the patent pending rights to proprietary technology and business processes used in conjunction with its flagship product offering; Bill Me Later(R), a payment solution that gives consumers an alternative to credit cards. I4 Commerce’s strong management team, led by CEO, Gary Marino, has a proven track record of success at Citibank and First USA/Bank One.
CyberSource Corporation is a leading provider of risk management and electronic payment solutions for enterprise businesses selling via multiple sales channels. CyberSource solutions manage transaction risk and enable electronic payment processing for Web, call center/IVR, and POS environments. CyberSource professional services designs, integrates and optimizes enterprise-wide commerce transaction systems. Over 3,000 businesses use CyberSource solutions, including over half of the Dow Jones Industrial companies. The company is headquartered in Mountain View, California, and has sales and service facilities in Japan, the United Kingdom, and other locations in the United States. For more information, please visit CyberSource’s web site at .