Visa to Acquire CardinalCommerce

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.