CyberSource unit Authorize.Net gets a new top executive

CyberSource Corp., a provider of electronic payment and risk management services, has named vice president of sales John Bodine from to head its small-business unit, Authorize.Net. He replaces Roy Banks, who has resigned as president.

Authorize.Net focuses on providing payment services to online merchants with less than $3 million in annual online revenue. It serves more than 225,000 merchants, the company says.

"John has done a great job managing our small business sales and marketing efforts,” says Bill McKiernan, chairman and CEO of CyberSource. “I look forward to working with John and leveraging his tremendous experience in managing and growing our sales to small businesses."

Bodine, who joined Authorize.Net as its ninth employee in 1998, has been instrumental in its growth and has managed the design and implementation of Authorize.Net’s affiliate reseller channel, which provides sales support to integration partners. He recently worked on establishing a direct sales channel for Authorize.Net, CyberSource says.

CyberSource acquired Authorize.Net a year ago for $662 million in cash and stock.

Editor`s Note: The Nov. 17 issue of the IRNewsLink NewsMakers newsletter incorrectly reported that John Bodine was named president of Authorize.Net. Bodine will retain his title of vice president of sales and marketing as he takes over management of Authorize.Net.
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