Mountain View, California e-commerce payment processor CyberSource will become a major part of Visa’s online service strategy after a $2 billion acquisition. According to a report on TechCrunch, Visa agreed to pay $26 per share in cash to purchase the popular processing firm. Industry analysts surveyed by TechCrunch estimate that CyberSource processes over a quarter of all e-commerce transactions originated in the United States.
Although consumers may not be familiar with CyberSource, the company manages secure payments for some of Silicon Valley’s biggest brands, including Facebook and Google. Through its Authorize.net credit card transaction gateway, CyberSource enables hundreds of thousands of e-commerce websites for small and medium businesses.
Visa’s purchase allows the credit card network to more fully integrate CyberSource’s online fraud detection program into its overall security strategy. CyberSource and Visa have openly collaborated on e-commerce security innovations for over ten years, and the acquisition brings two of CyberSource’s executives into Visa’s leadership team.
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