Asia Commercial Bank partners CyberSource to update online merchant payment services

Tuesday 29 April 2014 00:26 CET | News

CyberSource, a provider of ecommerce payment management services, has partnered the Vietnamese private bank Asia Commercial Bank (ACB), as part of the bank’s agenda to improve the bank’s capabilities in processing of both local and global online payments.

The agreement allows ACB to deploy CyberSource’s global payment gateway solution and fraud management tool, Decision Manager. This will help expand the array of payment services available to the bank’s merchant customers.

ACB offers bundled products across consumer and corporate banking, including more than 25 online features for consumers and 30 for enterprises. These include card payment services, payment and account management, as well as global remittance services.

Vietnam’s total ecommerce sales hit USD 700 million by the end of 2012, of which 11.8% was conducted via non-cash transactions. Growth projections for the Vietnamese ecommerce market remain robust, with total ecommerce sales in the country expected to reach USD 1.3 billion by 2015. However, the sector is still relatively young, with a small group of acquiring banks serving a burgeoning number of ecommerce merchants.

CyberSource Decision Manager features the World’s Largest Fraud Detection Radar, and provides a platform to pinpoint fraud with less manual intervention, by screening inbound orders against data and correlations from more than 60 billion transactions that Visa and CyberSource process annually. Every transaction is analyzed by over 260 detector tests and time-tested statistical risk models, which can be further localized by region.

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Keywords: ACB, Cybersource, ecommerce, payment management services, bank, online payments, non-cash
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce