Network International selects CyberSource's eCommerce payment and fraud solutions in Middle East
- United Arab Emirates: Saturday, February 02 - 2013 at 13:13
- PRESS RELEASE
Network International (NI), provider of payment solutions in the Middle East and CyberSource, one of the largest global providers of e-Commerce payment management services, announced a partnership that will enable NI to offer secure online payment services to its merchant partner base.
"As the largest merchant acquirer in the UAE, Network International is committed to supporting its extensive merchant base to grow their businesses through providing fast, efficient, scalable and convenient payment solutions," said Samer Soliman, Senior Vice-President and Head & Acquiring, Network International.
"The collaboration with CyberSource is a significant step towards delivering on this commitment, while addressing today's risk and data security challenges," he added.
"With the UAE accounting for almost 60% of the region's total eCommerce sales, CyberSource's ecommerce solutions that include real-time fraud detection and payment security management will prove to be vital for our merchant partners," he concluded.
Acquired by Visa (NYSE: V) in 2010, CyberSource, a VISA company, is one of the world's largest providers of eCommerce payment management services, and provides a complete portfolio of services that simplify and automate payment operations, including processing online payments, streamlining fraud management, and simplify payment security.
"Visa is dedicated to developing secure electronic payments for banking and merchant communities across the Middle East. By driving the eCommerce agenda, Visa and CyberSource are focused on providing advanced payment management services, offering consumers more choice, together with a seamless online shopping experience," said Kamran Siddiqi, General Manager for Visa MENA.
The CyberSource through VisaNet programme allows acquiring banks to use their current VisaNet connection and enable their merchants to accept a range of payment cards online. NI is the first merchant acquirer in the Middle East to leverage this programme to offer a full suite of eCommerce services to its merchants in the UAE.
"We are delighted to work with Network International," said Simon Stokes, Managing Director, EMEA, CyberSource. "We believe this agreement can help NI to accelerate adoption of online payments amongst its merchant base in UAE, whilst reducing the risk of fraud and protecting against payment data theft—resulting in new revenue streams and ultimately helping to fuel the growth of eCommerce spend in the region," he added.
NI's merchants also benefit from CyberSource Decision Manager, a sophisticated, real-time fraud solution. Decision Manager includes the world's largest fraud detection radar, bringing insights from over 60 billion global transactions processed by Visa and CyberSource annually, plus advanced detection technologies such as device fingerprinting.
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