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| FutureBazaar Chooses CyberSource to Fight Online FraudCyberSource Ltd., the UK-based CyberSource subsidiary, today announced that its Decision Manager anti-fraud solution has been selected by FutureBazaar India Ltd, the online shopping portal of Pantaloon Retail, one of India’s largest retailers.
By: blue saints Virendra Chhatbar, chief finance officer at FutureBazaar, said, “As eCommerce continues its rapid growth in India, retailers large and small must be increasingly vigilant to the threat of fraud. CyberSource’ Indian B2C eCommerce sales are expected to grow 195% between 2008 and 2011 (eMarketer, “Asia-Pacific B2C E-Commerce”, January 2008). FutureBazaar’ How Decision Manager works Decision Manager’s fraud evaluations, drawn from over 150 order validation tests, take place within seconds and are based on business rules determined by FutureBazaar. The rules can be updated at any time through an easy-to-use online interface. This flexibility enables FutureBazaar to continually adapt its fraud screening strategies to changing marketplace realities. Decision Manager includes sophisticated case management systems and process analytics to help further address the accuracy and efficiency of the fraud management process. For more information on CyberSource’ Dr. Akif Khan, head of U.K. client and technical services at CyberSource Ltd., said, “Fraud patterns vary from region to region and even country to country. Online merchants need to alter their rules to accommodate these variances or they are likely to allow unacceptable levels of fraud and deny too many good orders. We believe our experience working in India allows us to more effectively recommend screening practices to optimise online performance in that region. We are building on our work with companies like FutureBazaar to deliver the highest standards of payment and risk management throughout Asia.” About CyberSource Ltd. CyberSource Ltd. is the UK-based wholly-owned subsidiary of CyberSource Corporation , a leading provider of electronic payment and risk management solutions. CyberSource solutions enable electronic payment processing for web, call centre, and point-of-sale environments. CyberSource also offers industry leading risk management solutions for merchants accepting card-not-present transactions. CyberSource Professional Services designs, integrates, and optimises commerce transaction processing systems. Over 245,000 businesses use CyberSource solutions, including half the companies comprising the Dow Jones Industrial Average. The company is headquartered in Mountain View, California, and has sales and service offices in Japan, the United Kingdom, and other locations in the United States including Bellevue, Washington and American Fork, Utah. For more information, please visit the CyberSource Ltd web site at www.cybersource.co.uk or email uk@cybersource.com. About FutureBazaar FutureBazaar is India's largest online retailing portal. It is operated by FutureBazaar India Ltd., a Future Group Company. FutureBazaar offers a wide selection of apparel, books, cameras, consumer electronics, consumer durables, mobile phones, home décor, home entertainment, kitchen appliances, toys, games, watches and accessories. The company’s products come with a 15-day unconditional return warranty and a 7-day delivery guarantee. It delivers to more than 1,500 Indian cities and towns. For more information contact: Bluelotus Communications Chitra: chitra@bluelotuspr.com Ishani: ishani@bluelotuspr.com # # # Blue Lotus Communications are Communication Consultants with an array of health care, technology and finance clients. The other businesses of the group include a design boutique called Mustard Designs and Blue Bytes, an Information Logistics service. End
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