Visa to Acquire CardinalCommerce
12-2-2016
Visa, an ETA member company, has announced that it will acquire CardinalCommerce, an e-commerce payment authentication provider based in Ohio. Through the deal, which is expected to close during the second quarter of 2017, Cardinal will still serve all its clients as a fully-owned subsidiary of Visa, and Cardinal co-founders Tim Sherwin and Chandra Balasubramanian will remain in their leadership positions.
Visa says that this acquisition will make payments more seamless and secure across all digital payment platforms, empowering Visa’s merchant-customers to advance their digital presence. Visa currently offers Cardinal’s services through its CyberSource merchant-and-acquirer enablement platform.
“This strategic acquisition combines Visa’s industry expertise and Cardinal’s critical role in payment authentication to bring added security to online transactions, reduce fraud, and support digital commerce, which is the fastest growing commerce segment today,” Mark Nelsen, Visa’s SVP of Risk and Authentication Products, said in the card network’s press release. “By helping merchants, acquirers, and issuers better distinguish between good and bad transactions, Visa is in an even better position to strengthen consumer trust in digital payments, help merchants grow their businesses, and accelerate innovation in commerce.”
Read more from Visa here.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.
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