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FutureBazaar selects CyberSource for anti-fraud solution

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Driven by Indian B2C eCommerce sales, that is expected to grow at 195 per cent between 2008 and 2011 (eMarketer, Asia-Pacific B2C E-Commerce, January 2008), FutureBazaar India, the online shopping portal of Pantaloon Retail, one of India’s leading retailers, has selected CyberSource Ltd’s Decision Manager anti-fraud solution.

FutureBazaar offers a wide range of home products online including toys, clothing, books, consumer electronics, and larger items such as kitchen appliances. CyberSource Ltd is a subsidiary of UK-based CyberSource.

On the development, Virendra Chhatbar, chief finance officer, FutureBazaar, said, “As eCommerce continues its rapid growth in India, retailers large and small must be increasingly vigilant to the threat of fraud. CyberSource’s proven risk management solution gives us that greater level of intelligence. CyberSource has considerable experience working in the Indian online environment, a factor that strongly influenced our decision.”

Using Decision Manager, FutureBazaar can now access over 150 global validation tests to screen for fraud and determine in real time whether online transactions should be accepted, rejected or marked for further review, said a company press release.

— IndiaRetailing Bureau

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