OnePlus Leverages CyberSource Solutions to Expand Payment Options for Users Around the World

Stocks and Financial Services Press Releases Thursday January 19, 2017 09:00
SINGAPORE--19 Jan--PRNewswire/InfoQuest
  • OnePlus, a global mobile technology start-up, implements CyberSource's full suite of global payment management solutions, including fraud management and payment tokenization
  • CyberSource's solutions will enable OnePlus to accept digital payments, and extend their customer reach beyond their domestic market

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."

About CyberSource

CyberSource, a wholly owned subsidiary of Visa Inc., is the only integrated payment management platform built on secure Visa infrastructure, with the payment reach and fraud insights of a massive $358Bn global processing network. CyberSource and Authorize.Net payment management solutions help 475,000 large and small businesses grow sales, mitigate risk, and operate with greater agility. CyberSource operates globally, and is headquartered in San Francisco, California. For more information, please visit www.cybersource.com .

About OnePlus

OnePlus is a global startup challenging conventional concepts of technology. Created around the "Never Settle" mantra, OnePlus creates exquisitely designed devices with premium build quality and high-performance hardware. OnePlus thrives on cultivating strong bonds and growing together with its community of users and fans. For more information, please visit OnePlus.net.

Contacts:
Jareth Cheng
Ying Communications
+65-3157-5628
jareth.cheng@yingcomms.com

Latest Press Release

New Accenture Study Forecasts End to #Lucrative Inefficiencies for $1 Trillion Capital Markets Industry as It Adapts to the Digital Age

Wealth and asset managers generate most of the industry's profits but struggle to find scale efficiencies and are highly exposed to squeeze scenarios A new study from Accenture (NYSE: ACN) shows how the capital markets industry can wring out historical...

UMITRON secures US$2 million project funding from the Inter-American Development Bank to deliver IoT and AI technology to drive growth of sustainable aquaculture in Lake Titicaca, Peru

UMITRON PTE.LTD. (Singapore, Co-founder/Managing Director, Masahiko Yamada) in cooperation with Abaco (Cooperativa de Ahorro y Credito) and its subsidiary Piscis (Piscifactorias de los Andes) has been approved for US$2 million project funding to improve...

Photo Release: KBank wins Best Private Bank in Thailand 2018 award on the global stage

Mr. Jirawat Supornpaibul, Private Banking Group Head, recently represented KBank to receive the "Best Private Bank in Thailand 2018" award at the PWM/The Banker Global Private Banking Awards, organized by The Banker Magazine. It is the 24th best private...

Fitch Affirms BAFS at #A+(tha)#; Maintains Negative Outlook

Fitch Ratings (Thailand) Limited has affirmed Bangkok Aviation Fuel Services Public Company Limited's (BAFS) National Long-Term Rating at 'A+(tha)' and maintained Negative Outlook. Fitch has also affirmed BAFS's National Short-Term Rating at...

SET lists first depositary receipt representing overseas ETF on December 18

The Stock Exchange of Thailand (SET)'s first depositary receipt, DR, representing a Vietnam exchange-traded fund (ETF), issued by Bualuang Securities pcl (BLS), will be listed on December 18 under the ticker symbol "E1VFVN3001". SET President Pakorn...

Related Topics