CyberSource Plants a Flag in France
April 11, 2013
Antifraud technology provider CyberSource said this week it has opened an office in Paris to bring its fraud management solution to French merchants. The Visa-owned company said the Paris facility is its second European expansion after setting up shop in England in 1997.
E-commerce in France, like most everywhere else, is on the rise. In 2012, e-commerce rode a new surge caused by mobile transactions to a 19 percent increase in sales to €45 billion ($58.7 billion), according to the French e-commerce trade association Fevad. But, CyberSource noted that fraud rates on e-commerce transactions have been steadily rising since 2007 and were up 20 percent to .34 percent in 2011 from a year earlier.
CyberSource has named Patrick Flamant as its Country Manager in France and said he will be responsible for building a team tasked with bringing CyberSource’s Decision Manager fraud-fighting tool to French online retailers.