K-tel and CyberSource(R) Hit Right Notes With Web-based Music and Video Sales
Rapid, Reliable, Scalable Payment Services Underpin Web's Newest Major Entertainment Site
LOS ANGELES, Aug. 10 /PRNewswire/ -- K-tel International Inc. (Nasdaq: KTEL - news) and CyberSource Corporation jointly announced today that CyberSource's electronic commerce services are providing the scalable payment processing infrastructure for ''K-tel Express,'' K-tel's new online music and video service. CyberSource's services enable K-tel, the most recent major entertainment vendor to establish itself on the Internet, to maintain a secure and convenient shopping environment for its customers. Paymentech Inc. [NYSE:PTI - news] is providing payment processing services that include high speed online authorization of credit cards.
K-tel Express offers more than 260,000 CD, tape and video titles for sale, complementing the company's retail, mail order, and direct response television channels. In addition to a large number of titles, the site also offers K-tel's unique music compilation products such as the highly popular ''Hooked On'' series. To support the site's growing sales, CyberSource provides K-tel Express with real-time payment processing, automatic sales tax calculation, and fulfillment house messaging services, along with protecting the site with the Internet's most comprehensive credit card fraud screening technology -- IVS FraudScreen.
''CyberSource has proven to be highly capable of immediately addressing all of our electronic commerce needs,'' said Mark Margiotta, vice president of K-tel Online. ''Customer payment transactions are processed in a timely, reliable fashion, while we gain protection from fraud. Just as important, as our Web-based business grows and concurrent transactions multiply, CyberSource's services can scale to help us continue providing exemplary customer convenience and service.''
''We're pleased to be teaming with K-tel to bring its unique brand of entertainment marketing to the Internet,'' said Greg Quinn, vice president of sales and marketing at CyberSource. ''The market for music and video products on the Web is fast growing and highly competitive. As a direct marketing pioneer, K-tel recognizes that rapid, secure payment services, such as those provided by CyberSource, are key success factors in an industry were responsiveness to customers is absolutely critical.''
The electronic commerce services that CyberSource provides to K-tel fall into three categories: payment processing, risk management and fulfillment. Payment processing services include multi-currency payment processing and calculation of applicable sales and value-added (VAD) taxes. Risk management services include IVS FraudScreen, which allows Web merchants to manage their level of exposure to credit card fraud.
About K-tel
K-tel International is a vertically integrated developer, marketer and distributor of a wide array of entertainment and consumer products worldwide. The company markets its product lines to retailers, wholesalers, distributors and licensees around the globe, or directly to the consumer via the Internet (www.ktel.com), television and other forms of direct response media. K-tel has active operations in the United States, Canada, the United Kingdom, Germany and Finland.
About CyberSource
CyberSource Corporation is a global provider of Internet transaction processing and electronic fulfillment applications. More than 250 major software publishers, distributors and resellers have turned to CyberSource. The CyberSource suite of electronic commerce applications is optimized for the delivery of digital products. CyberSource's quick-start program enables merchants to process transactions online in as little as a week. CyberSource's customers include Adobe (Nasdaq: ADBE - news), AutoDesk (Nasdaq: ADSK - news), IBM/Lotus (NYSE: IBM - news), Liquid Audio, Microsoft (Nasdaq: MSFT - news), Netscape (Nasdaq: NSCP - news), Qualcomm (Nasdaq: QCOM - news), Real Networks (Nasdaq: RNWK - news), Symantec (Nasdaq: SYMC - news), Programmer's Paradise, and Compaq Computer (NYSE: CPQ - news). Founded in 1994, CyberSource is a privately held company headquartered in San Jose, California and maintains offices in the United States and Europe.
For more information visit cybersource.com or email to info@cybersource.com.
NOTE: CyberSource is a U.S. registered trademark. CyberSource and Sm@rtCert are Registered trademarks of CyberSource Corporation. CyberSource acknowledges all third party trademarks.
SOURCE: CyberSource
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