Visa said it will buy Cybersource for $2 billion and it’s paying cash, not using its credit card.
Visa said that the combination of it and Cybersource means it will gain access to the e-commerce category and help increase the use of Visa debit, prepaid and credit products for online buys.
It will also use its own global presence to increase the reach of Cyberspace outside the United States – most of the company’s revenues are Stateside.
The two companies already had a relationship and already collaborate on technology Cybersource has for fraud management.
Visa has appointed Cybersource CEO Michael Walsh to continue looking after the Cybersource operations. The transaction is subject to approval by shareholders and regulatory authorities.