Authorize.Net instance of business
Authorize.Net, A Visa Solution is a United States-based payment gateway service provider, allowing merchants to accept credit card and electronic check payments through their website and over an Internet Protocol (IP) connection. Founded in 1996 as Authorize.Net, Inc., the company is now a subsidiary of Visa Inc. Its service permits customers to enter credit card and shipping information directly onto a web page, in contrast to some alternatives that require the customer to sign up for a payment service before performing a transaction.History
Authorize.Net was founded in 1996, in Utah, by Jeff Knowles. As of 2004, it had about 90,000 customers.Authorize.Net was one of several companies acquired by Go2Net, a company backed by Microsoft founder Paul Allen, in 1999, for US$90.5 million in cash and stock. Go2Net was acquired by InfoSpace in 2000 for about $4 billion; Authorize.Net was acquired by Lightbridge in 2004 for $82 million and then by CyberSource in 2007.Visa Inc. acquired CyberSource in 2010 for $2 billion. Visa has maintained Authorize.Net and Cybersource as separate services, with Authorize.Net concentrating on small- to medium-sized businesses and Cybersource concentrating on international and large-scale payment processing. At the time of the 2010 acquisition, the company's CEO identified three priorities: expanding the ecommerce market, enhancing fraud detection and prevention, and improving data security. As of 2014, along with parent CyberSource, it had about 450,000 customers.
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