Visa Buys Mobile Payment Firm CyberSource for $2B

Posted on by Chief Marketer Staff

Visa Inc., the credit card giant, has acquired CyberSource, a provider of electronic and mobile payment systems for approximately $2 billion.

“With CyberSource, we are adding a new suite of capabilities and experience in addressing e-commerce merchant needs,” said Joseph W. Saunders, CEO of Visa, in a statement. “And, as e-commerce increasingly migrates to mobile devices, we believe the combination of Visa and CyberSource technology and services will position Visa to lead in mobile e-commerce.”

The transaction is expected to close in the fourth quarter.

CyberSource executive chairman and founder, William S. McKiernan, will join Visa as an executive advisor to assist in the integration of the two companies.

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