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Todd Ablowitz, president of the Double Diamond Group and a payment consultant (who has no ties to Cybersource—at least none that we could find), said he thinks the move is logical and has strong potential.

“My favorite type of product release is the ‘a-ha’ product release, like this one. All the ingredients have been here for years. Consumers hate getting that nasty-gram from a recurrent biller saying that their card—which was probably cancelled due to fraud, a lost card or a data breach—was declined,” Ablowitz said. “The card brands rolled out updater services years ago, allowing retailers to avoid that awful customer experience. The only problem is that it appeared no one was using them. Now there’s a service that not only includes the account update service and automates it, but it’s integrated into their tokenization process. That means the retailer never needs to see the differences in their card info. To me, that’s powerful.”

StorefrontBacktalk, October 21, 2009