Authorize.Net is a payment gateway service provider allowing merchants to accept credit card and electronic check payments through their Web site and over an IP (Internet Protocol) connection. Authorize.Net claims a user base of over 375,000 merchants, which would make them the Internet’s largest payment gateway service provider.
The company was founded by Jeff Knowles in 1996. In November 2007 Cybersource purchased Authorize.Net for $565 million. Authorize.Net was originally purchased in 2004 by Lightbridge for $82 Million. In 2011, Authorize.net’s parent company, CyberSource, was acquired by Visa.