Cielo SA (CIOXY: OTC Link) | Cielo and CyberSource announce a strategic alliance

Cielo and CyberSource announce a strategic alliance

Mar 21, 2012

OTC Disclosure News Service

Barueri, SP, Brazil –

CIELO AND CYBERSOURCE ANNOUNCE A STRATEGIC ALLIANCE TO BRING A GLOBAL FRAUD PREVENTION SOLUTION FOR E-COMMERCE TO BRAZILIAN RETAILERS

 

The solution includes the world’s largest fraud detection radar, allowing e-commerce establishments to sell more, more securely, internationally 

 

Barueri, March 20, 2012 – Cielo (BMFBOVESPA: CIEL3), Brazil’s leader in electronic payment solutions, announces a partnership with CyberSource, a global leader in supplying payment management for the Brazilian launch of the most complete global fraud prevention solution in e-commerce.

  

Cielo’s goal, after a year and half analyzing all tools available on the market, is to improve Brazilian e-commerce, providing a solution that allows online merchants to build customer loyalty and identify with precision fraudulent transactions to ensure more sales conversion with lower operating costs.

 

“We have joined our e-commerce expertise with CyberSource’s tool, the most sophisticated payment fraud detection tool on the market,” says Eduardo Chedid, Cielo’s Executive Vice-President for Products and Business. In 2011, Cielo captured the equivalent of 80 million transactions from online stores.

 

“Data is the vital strength of fraud detection,” says Fernando Souza, CyberSource’s general manager in Brazil. “CyberSource has access to more than 60 billion transactions processed annually from around the world and this will allow Cielo’s clients to use a fraud management tool with unique power. In addition, the solution incorporates high technology elements that identify the device used in the transaction. This will allow Brazilian e-commerce to achieve much better results in terms of losses from fraud, operating costs and increased sales.”  

 

The solution, which includes the largest fraud detection radar in the world, a decision-making system and specialized consulting, is able to accurately detect online fraud attempts in real time, in practically all payment methods (credit and debit cards, bank bills, coin acceptors, etc.).   

 

International cards, issued abroad, will also be verified by the tool. “We have gained a competitive and unique advantage to provide an even more complete e-commerce proposition for our clients. This will provide security for online retailers who, during the FIFA™ 2014 World Cup and the 2016 Olympics, for example, may sell airfare online or any other type of online service for tourists,” says Cielo’s Chedid.

 

How does it work?

The tool offers online merchants a detailed analysis of online shopping. Each order is simultaneously subjected to more than 260 tests in a process that takes about two seconds. The results include a detailed evaluation of anomalies and correlations and a risk score, as assessed by the system according to rules pre-established by the retailer, and the request is automatically accepted, rejected or forwarded for manual analysis.

 

This intelligence reduces the merchant’s operating costs as it allows a more qualified review of orders separated for analysis, with little manual intervention. “In addition to reducing the number of transactions that need to be manually verified, the tool has more precise identification of fraudulent operations and helps ensure higher sales conversion,” says Fernando Souza.

 

Advantages

A notable feature is the IP locator that comes with the CyberSource tool. This technology is able to identify the real IP of the scammer’s computer, even if he or she tries to hide this information. In addition, it crosschecks the transaction history from the computer with other retailers at a global level. This, together with other global correlations, results in significant advances that will aid Brazilian merchants in combating online fraud.

 

“In terms of security, for Brazilian e-commerce this is an evolution on par with the implementation of microchips in cards, phasing out the magnetic strip,” says the Cielo executive.

 

Another advantage is the integration with Cielo’s risk management tool, operating since 2001. The transactions indicated as fraudulent by Cielo Lynx, which analyses the full volume transacted on the Company’s network and alerts issuing banks, will also be loaded in the new solution’s e-commerce database.

 

“Cielo has been recognized for having the lowest incidence of transaction frauds in the Brazilian market, and the new tool adds to our portfolio of antifraud intelligence, for merchants,” says Cielo’s Eduardo Chedid.

 

The partnership also provides specialized consulting with CyberSource professionals for monitoring the solution’s performance, from the elaboration of the fraud identification strategies and the parameters for result evaluation to daily performance analysis.

 

CyberSource, a Visa subsidiary (NYSE: V), has operated in Brazil since 2011 and has a local team to provide support to both virtual merchants and Cielo in implementing this powerful tool.      

 

 

About Cielo

Cielo S.A. (Bovespa: CIEL3 | OTC: CIOXY) is a leading company in electronic payment solutions in Brazil and Latin America. It is responsible for the credentialing of merchants, capture, transmission, processing and financial settlement of transactions with credit and debit cards, and it captures transactions from the world’s leading card brands: Visa, MasterCard®, American Express® and Diners Club International, in addition to Japan Credit Bureau (JCB), the world’s fifth largest payment card. Transactions with Elo cards, the only 100% national brand, are also captured by Cielo, which also has partnerships with important regional brands such as Aura, Sorocred, Policard and Goodcard. In addition, benefit cards Visa Vale, Ticket® and Sodexo are also accepted on the acquirer’s network, in addition to Bônus CBA, Cabal Vale, Verocheque and Sapore Benefícios cards, reinforcing the Company’s leadership in this segment.

 

The high technology of its network allows Cielo to operate with a 99.995% availability rate throughout the year and 100% in the main retail dates. The company also has the most modern equipment in Brazil (with 1.9 years on average) and more than 1.2 million active merchants (those that operated in Cielo’s terminals in the past 60 days), covering 99% of the country.

 

More information about Cielo

FSB Comunicações – +55 (11) 3165-9596
Paulo Sadalla – +55 (11) 3165-9562 |
paulo.sadalla@fsb.com.br
Mariana Ribeiro – +55 (11) 3165-9705 | mariana.ribeiro@fsb.com.br

 

 

About CyberSource

CyberSource, a Visa subsidiary (NYSE: V), is a payment management company. More than 300,000 companies around the world use CyberSource and Authorize.Net solutions to process online payments and simplify fraud management and payment security. The company is headquartered in San Francisco and has offices around the globe, with regional offices in Singapore (Asia Pacific), Tokyo (Japan), Miami / São Paulo (Latin America and the Caribbean), and Reading, United Kingdom (Europe / Middle-East / Africa). For more information, visit www.cybersource.com.

 

About the CyberSource tool

CyberSource has helped establishments detect fraudulent transactions since 1997. All around the world, companies from several industries use the Cybersource tool, including airlines, travel companies, small retailers in need of speed, and social, digital and entertainment services. CyberSource also offers management services, with teams specialized in these various sectors, to complement its expertise of the client establishments.

 

 

More information about CyberSource

Sabrina Sciama, Visa do Brasil
+55 (11) 2102-0021, ssciama@visa.com
Raquel Soriano, Visa do Brasil
+55 (11) 2102-0077, rsoriano@visa.com
Priscilla Natale, Ketchum
+55 (11) 5090-8934, priscilla.natale@ketchum.com.br
Fernanda Francisco, Ketchum
+55 (11) 5090-8936, fernanda.francisco@ketchum.com.br

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/CIOXY/news?id=43878

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