Vietnam’s privately-held lender Asia Commercial Bank (ACB) has reached an agreement to implement CyberSource’s fraud management tool and global payment gateway Decision Manager.
CyberSource, a Visa company said that this partnership will enhance ACB’s capabilities in processing both local and global online payments.
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ACB, which provides diversified bundled products across consumer and corporate banking, believes that the new technology will enable it to expand payment services available to the bank’s merchant customers.
The lender’s service range includes card payment services, payment and account management, as well as global remittance services.
Featuring one of the largest fraud detection radar, CyberSource Decision offers a comprehensive platform to pinpoint fraud faster, more accurately and with less manual intervention, by screening inbound orders against data and correlations from more than 60 billion transactions that Visa and CyberSource process annually.
CyberSource said that each transaction is scrutinised by more than 260 detector tests and time-tested statistical risk models, which can be further localised by region.
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By GlobalDataACB bankcard centre director, Le Quang Khanh, said: "We see vast potential in Vietnam’s eCommerce market. Our customers’ trust is our top priority, and CyberSource is the chosen partner due to its expertise and state-of-the-art technologies in fraud management and payment processing.
"CyberSource’s global payment gateway solution and Decision Manager tool will enable us to process payments more securely and effectively for our customers, helping us establish our market leadership in the growing eCommerce market in Vietnam."
