California-based CyberSource is to enable merchants using its online transaction management solutions to accept payments made via the PayPal person-to-person payment system.
Under the deal CyberSource will add a PayPal option to its suite of online payments processing products, allowing merchants to access PayPal payment functions - including fraud screening, tax calculation, export control, recurring billing and automated reconciliation management - via a single interface.
Bill McKiernan, CyberSource chairman and chief executive, says PayPal currently has 31 million account holders: "Through this alliance, we are introducing our thousands of merchants to millions of additional potential customers."
He says the groundbreaking initiative is an important step in the company's ongoing strategy to provide e-commerce merchants with a single source payment solution.