NetSuite on Thursday gave customers selling their wares to international customers a more convenient e-payment option when it chose CyberSource
as its global payment partner.
CyberSource provides secure electronic payment, credit card fraud management and verification software and services for more than 20,000 customers worldwide.
Customers accessing NetSuite’s business applications will now be able to conduct transactions using more than 100 different currencies through one e-payment gateway, allowing merchants to process and authorize credit and debit card transactions at banks around the world.
“With CyberSource, customers can accept multiple currencies instead of other payment gateways that limit you to using only U.S. dollars or euros,” Baruch Goldwasser, a product manager at NetSuite, said in an interview with internetnews.com. “Right now if a customer is accepting dollars, euros and yen, CyberSource is their only option.”
PayPal’s Payflow Pro, The Royal Bank of Scotland Group’s WorldPay and UK-based SecPay all provide real-time, online credit and debit card transactions but are limited to processing transactions using either the U.S. dollar or euro, Goldwasser said. Along with CyberSource, all three of these e-payment networks will continue to be available to NetSuite customers.
Goldwasser said CyberSource also offers fraud prevention services, including an online fraud-management portal and risk-management features designed to increase sales conversions and reduce the odds of being ripped off by customers using stolen or counterfeit credit cards. It also provides a token-based secure storage service that separates confidential customer-payment data from the merchants’ daily business operations.
“It has a lot of fraud detection features customized for each company that’s specific for each country,” Goldwasser added. “It lets you know where you might have problems and declines or red-flags orders from [questionable] vendors operating in that country.”
CyberSource, like all e-payment gateway services, charges a small commission for each transaction processed as well as a monthly fee from merchants using its service.
NetSuite uses its software-as-a-service