Without online payments, eCommerce doesn’t tick. But it’s more
than collecting money at checkout. Simplifying payments and risk
management for merchants while making the experience frictionless
for consumers requires staying ahead of the constant change in
commerce.
In today’s edition of Get to Know
we talk with CyberSource,
a leader in the payments market, and preintegrated with Oracle Commerce
Cloud. Check out our interview to find out what’s ahead in
payments online, on mobile, and worldwide -- and how CyberSource is
leading the way.
CyberSource is more than a typical payment gateway.
Tell us about the differentiated products you offer that merchants
may not be aware of.
The CyberSource integrated payment
management platform powers businesses to grow sales, mitigate risk,
and operate with greater agility. As part of Visa, our scale is
unparalleled in the industry. We support more than 13 billion
API calls per year, processing $358 billion in payments volume
annually.
One example of how our scale gives us
global access and reach is through the fraud management services we
provide to our clients. Insights from the 68 billion transactions
that we see across Visa and CYBS’ networks are woven into the
intelligent risk assessments and insights we provide clients via
our fraud management solution, Decision Manager. These
assessments help merchants determine which orders to accept, and
which to reject or review. This is very unique in the market,
differentiating us as we expand our services.
How does CyberSource stay ahead of the game
to keep clients secure?
Security is top of mind for many
businesses today. The question is not whether there will be a
breach, but how customer data will be protected. That’s why we
provide services that keep sensitive account data off merchant
networks and in secure Visa data centers. Hosted payment
acceptance, end-to-end encryption, and semi-integrated security
architectures help remove data from your systems during payment
acceptance and transmission. These technologies work in conjunction
with tokenization, which replaces stored payment data with a unique
identifier or token such that even in the event of a breach,
sensitive card data cannot be compromised.
What is CyberSource doing to make handling
payments from mobile devices simpler and safer?
Mobile devices, and the smartphone in
particular, have been a huge catalyst in the evolution toward
omni-channel experiences. There’s no denying that making a purchase
on a mobile phone can be a frustrating experience for consumers,
and consequently safe, seamless mobile payment acceptance is a top
priority. To address this challenge, we’ve been enabling merchants
to accept digital payments such as Visa Checkout and Apple Pay, and
we’ve continued to expand this capability through the introduction
and support of other digital payment methods, including Android Pay
and Samsung Pay.
One of the challenges with mobile
payments is the need to provide a common, seamless payment
experience across channels, with a 360° view of customer
transaction activity. The CyberSource API enables this by providing
interoperable services and a data platform to manage payments,
fraud and security across all channels. We’re deeply invested in
creating an environment where merchants can deploy new,
omni-channel experiences—almost on demand.
With eCommerce taking off around the globe,
do you see your clients expanding internationally?
Global expansion used to be limited
to large, enterprise merchants but increasingly it is becoming a
key priority for companies of all sizes. In the digital economy,
the way businesses manage payments can be a critical factor
influencing their time-to-market and financial success.
Unfortunately, merchants can’t just take a model that works in one
market and expect it to work in another.
For instance, in China, it’s common
to pay with digital wallets, such as Alipay. By contrast, in
Brazil, you need a combination of local card acceptance and
alternate payments types such as Boletos. In addition to responding
to local payment preferences, successful global expansion centers
on the ability to localize checkout effectively and efficiently,
deal with local currency and tax presentation, and manage fraud
successfully.
How do you help merchants expand into new
markets?
CyberSource offers payment acceptance
in over 190 countries, across 45 funding currencies, via an
extensive network of more than 100 acquirer/processor connections.
Our fraud experts are located throughout the world to provide
additional insight and operational scalability. This global
coverage, together with out-the-box, responsive and localized
checkout templates; currency and tax support; and on-demand
in-region order review teams, helps businesses reach their market
expansion goals.
Do you have any new features or initiatives
you can share with us?
With the lines blurring between
traditional eCommerce and in-person transactions, we are focused on
providing merchants with a genuine one-stop shop solution, to
support all their payment requirements for all their commerce
needs, whether they’re online, mobile or face-to-face, via a single
integration.
One example of this tool set is the
CyberSource Token Management Service. Like the legacy
solution, this new service also stores payment data in secure Visa
data centers. In addition, it works with the many different types
of tokens (network tokens, acquirer tokens etc.), tokenizes
non-card payments and supports all payment channels. By
standardizing token management, this new service removes the
barriers that impede omni-channel execution due to incompatible
tokens from various channels. Since CyberSource tokens are
not tied to a business’s acquiring relationship and because this
service reduces the IT complexity of storing and referencing many
different token and payment formats, businesses maintain the
agility needed to respond to new payment requirements in an
evolving digital landscape.
What’s next on the horizon for online
payments and security industry?
The stage is set for the next wave of
commerce, where the payment experience becomes more seamlessly
embedded in context of the transaction. We can foresee a set of
applications in the very near term where devices themselves—a broad
array of devices—are able to initiate commerce and conduct
recurring transactions. Even though the idea was first developed in
the online environment, everything is building toward digital,
cloud-based payments where subsequent transactions are seamless and
payments are easy.
We’re on the verge of an exciting era
of new commerce experiences that have yet to be fully imagined, but
are enabled by the core capabilities that we’re deploying today.
Overall, in the digital economy, payment management has become a
strategic component of a business’ digital foundation.
CyberSource is pre-integrated with Oracle Commerce Cloud! For
more details, visit
our Cloud Marketplace.
