Netsuite partners for global payments system

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NetSuite has chosen CyberSource as a global payment partner in order to give customers selling their wares to international customers a more convenient e-payment option.

Customers of 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.

CyberSource provides secure electronic payment, credit card fraud management and verification software and services for more than 20,000 customers worldwide. "With CyberSource, customers can accept multiple currencies instead of other payment gateways that limit you to using only US dollars or euros," said Baruch Goldwasser, Netsuite product manager.

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.

Early users said the new offering was more convenient than alternatives. "Before switching to NetSuite and CyberSource, we found that it was often very difficult to timely and effectively record credit card sales and deposits," said Travis Shreeve, controller at Layers Clothing LLC. "But now that we've been using NetSuite and CyberSource, these sales and deposits are effective and timely. I am very impressed with the ease with which we are now able to reconcile our credit card transactions."

"The addition of CyberSource's payment services offers efficient new global payment options for our eCommerce customers," said Zach Nelson, CEO of NetSuite. "As our customers increasingly engage the web to grow their businesses, we believe we are providing them with solutions needed to succeed in the global marketplace."

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