RealTime IT News

E-Mail Payment Service Signs With CyberSource

E-commerce transaction services company CyberSource Corp. said that e-mail payment service PayPal selected its Payment Services and Risk Management Services to handle credit card payments for its growing subscriber base.

PayPal, a service of X.com Corp., allows users to send money "instantly and securely" to anyone with a U.S. e-mail address. The service also includes applications for the Palm Pilot, HandSpring Visor and wireless platforms.

The service can be used to buy and sell items at online auctions, classified sites and personal Web sites.

PayPal implemented CyberSource Credit Card Services and the CyberSource Internet Fraud Screen, part of the CyberSource Internet Commerce Suite. Financial arrangements were not disclosed.

"As we continue to grow our e-mail payment service exponentially, and to transform the way people pay, bill and bank, we need a back-end partner that not only scales with our business, but also helps provide the secure transactions our customers demand," said X.com executive vice president Peter Thiel, co-founder of PayPal.

CyberSource markets an outsourced suite of e-commerce transaction services available on a fee per transaction "pay as you grow" basis.

X.com was founded in March 1999 by Elon Musk, who previously founded Internet media company Zip2, which he sold last year to AltaVista, now a division of CMGI. Last month, X.com merged with PayPal.com.