Visa’s CyberSource in SEA mobile payments pact
By Digital News Asia August 10, 2015
- AirPay partners with CyberSource to heighten security for Garena users
- CyberSource claims its Decision Manager has world’s largest fraud detection radar
E-COMMERCE payment management services provider CyberSource, a wholly-owned subsidiary of Visa Inc, has announced a partnership with South-East Asian payment network provider AirPay Co Ltd.
This agreement will allow AirPay to provide secure mobile payment services to Garena users, as well as support the company in growing its market share in the region, CyberSource said in a statement.
Bangkok-based AirPay aims to provide mobile payment services to 14 million active, monthly mobile users of Garena, an Internet company headquartered in Singapore.
These mobile payment services enable Garena’s mobile users to conveniently and securely pay for online games, telephone bills, utilities and e-commerce transactions, CyberSource said in its statement.
“By instituting a solid and secure payment management infrastructure that is PCI DSS (Payment Card Industry Data Security Standard) compliant, we are able to better mitigate fraud risk, as well as ensure payment security for merchants and their customers for a fast, safe and fuss-free mobile checkout experience,” said AirPay country product manager Supphavit Hongamornsin.
Through this partnership, AirPay will adopt CyberSource’s fraud management tool, Decision Manager, as well as its payment tokenisation solution.
Together, these solutions will enable Garena users to make payments on their mobile and tablet devices, securely and efficiently, with a wide spectrum of major credit cards, it added.
Decision Manager features the world’s largest fraud detection radar, CyberSource claimed. The solution expands the depth and breadth of fraud-pattern visibility by screening inbound orders against data and correlations from more than 60 billion transactions processed by Visa and CyberSource annually, supplemented by 260 validation and correlation tests, it said.
According to a Nielsen study, smartphone penetration in Asia Pacific is expected to surpass the United States as well as many European markets within the next few years, with penetration in Thailand, Indonesia and Philippines gaining traction.
As Internet penetration and adoption of mobile technologies gain prominence, this facilitates the growth of activities on the mobile channel, such as consumption of digital content, utility payments, and online purchases, CyberSource said.
As demand for mobile services grows, merchants who make mobile payments easy and accessible in South-East Asia, especially in the emerging markets, can gain a distinct advantage in the mobile evolution, it declared.
“As the digital divide narrows among countries in South-East Asia, we foresee the pace of payment innovation in the region accelerating,” said CyberSource South-East Asia regional director Chew Ann Wee.
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