Singapore – 19 January 2017 – CyberSource, a Visa Inc. company (NYSE: V), and one of the world’s largest providers of eCommerce payment management services, today announced its collaboration with OnePlus, a global mobile technology start-up focused on developing flagship smartphones for its tech-savvy users.
Leveraging CyberSource’s suite of payment management solutions, OnePlus will be able to securely accept digital payment methods through both web and mobile channels as it looks to grow its market share across Europe and North America.
OnePlus will deploy CyberSource’s full suite of payment, fraud management and tokenization services. Through the CyberSource global payment gateway, OnePlus will be able to process a wide range of international online and mobile payments from multiple credit card issuers, as well as certain alternative payment methods.
Since its founding in 2013, OnePlus has grown rapidly in a short time and operates in more than 30 countries today. As the company continued to expand overseas, OnePlus wanted to offer preferred payment options and currencies in local markets to expand customer reach, without increasing payment security or fraud risk for customers in Europe and North America.
“OnePlus needs to continue building trust among our customers for sustainable growth,” said Steven Gao, head of global eCommerce at OnePlus. “This relationship with CyberSource is important to that strategy as we are now able to accept a greater variety of payment modes and streamline payment acceptance, thus improving the entire customer experience.”
Additionally, OnePlus will use CyberSource Decision Manager, which features the World’s Largest Fraud Detection Radar. With insights from over 68 billion transactions processed annually by Visa and CyberSource, supplemented by over 260 real-time global validation tests, OnePlus will be able to automatically screen more inbound orders faster, with increased accuracy and less manual interventions. This will significantly enable OnePlus to better mitigate its online fraud rate with the ability to accept more genuine orders with confidence, while minimizing the rejection of valid ones.
“Today’s customers expect more choices,” said Sarah Wu, Head of Sales, Greater China, CyberSource. “Increasingly, customers are more likely to simply abandon their shopping carts if their preferred payment option is not available. As merchants look to expand overseas, a solid and secure payment management infrastructure will help improve customer experience. We are thrilled to work with OnePlus to optimize their payment and fraud management services, enabling them to provide a secure end-to-end online payment experience that caters to their growing user base.”