PayPal Makes E-commerce Even Easier
By Laura Rush
October 9, 2003
E-commerce just got a little easier for thousands of small business
merchants. Ubiquitous payment company PayPal has struck a deal to integrate
its service with CyberSource, a leading payment solution provider, giving
small e-commerce merchants access to more than 31 million PayPal account
holders.
News of the relationship was announced the same day PayPal launched
a special payment service in the United Kingdom. The U.K. version of PayPal
will work just like the U.S. version, according to the company, including
the same fraud protection for charge-backs from qualified transactions.
The integration will begin immediately, starting with CyberSource's
payment management solution for smaller businesses, CyberSource Small Business
(CSB).
As e-commerce grows in popularity, small to medium-sized online merchants
are finding that providing multiple payment options is a necessity if they
want to serve the many different buyer preferences, including e-checks,
credit and debit cards and bank transfers. By using PayPal, merchants can
accept payments directly from their customers' accounts, avoiding the risk
of charge-backs while also allowing customers to keep their payment information
private. PayPal makes money off the service by charging a small transaction
fee for every purchase.
CSB is a payment service platform that is available to small business
merchants by CyberSource's resellers including banks, ISPs, and shopping
portals.
Using CSB, merchants have access to a wide variety of payment options
including Visa, MasterCard, AMEX, Discover Card, and now PayPal, enterprise-level
security to protect against hacking, and merchant account hijacking, detailed
transaction reporting, as well as built-in tools such as fraud screening,
online tax calculation, recurring billing and automated reconciliation
management.
With regard to the payment options, merchant orders on CSB are processed
by the same systems that service CyberSource's largest retailers. The spectrum
of card processing and fraud protection options included in CSB include
Payer Authentication, which offers Verified by Visa and MasterCard SecureCode
programs through one connection, and Smart Authorization, which includes
Address Verification System, Cardholder Verification Number checking, and
merchant selectable dollar amount order limits.
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