Digital Transactions Authoritative, insightful and timely information for payments professionals
Two dominant payments companies—Visa Inc. and VeriFone Systems Inc.—are teaming up to better secure the varying ways consumers shop across digital and face-to-face channels.
Announced Wednesday, the deal lets San Jose, Calif.-based VeriFone, which makes point-of-sale hardware and security products, gain access to Visa’s CyberSource platform that global merchants use to manage their payments.
VeriFone’s gateway connection to CyberSource enables merchants to accept cross-channel payments and obtain centralized transaction reporting; to access CyberSource Decision Manager, a fraud-detection service; to protect sensitive payment data; and to deploy EMV-certified POS devices compatible with the CyberSource platform.
Both Verifone, via its Secure Commerce Architecture, and CyberSource will provide security services to merchants.
“As consumers shop and pay in multiple channels, merchants are looking to integrate payment systems to facilitate a single view into their customers’ buying behaviors,” said Andre Machicao, a senior vice president at CyberSource, in a press release. Visa acquired CyberSource in 2010 for $2 billion in cash.
The integrated service will be available beginning in September initially in the United States.
