Sri Lanka-based Hatton National Bank has formed a deal with payments and fraud management company CyberSource.
CyberSource is a Visa solution, and HNB will integrate the service with its entire merchant network. Through this, the bank will be able to provide its network with an enhanced e-commerce and m-commerce functionality, establishing a secure payment experience for customers.
The deal comes as the bank looks to invest into new technology for its merchants, including recent support for its dynamic currency conversion on foreign cards, processing, in-app payments through tokenisation, and mobile POS payments.
CyberSource managed more than $467bn in global transactions last year, and has helped its clients to boost sales, and lower risks. The company provides payment processing solutions including omni-channel payments, gateway and processing, payment cards, mobile payments, recurring billing, and global tax calculation, among others.
The company also provides businesses with fraud management services, supporting merchants with risk services, player authentication, account takeover protection and decision manager, among others.
HNB deputy general manager retail banking Sanjay Wijemanne said, “The future of commerce is undoubtedly digital, and that is why we are excited to enter into this milestone agreement with Visa in order to introduce the CyberSource payment gateway to Sri Lanka.
“CyberSource is a platform that forms the backbone of some of the largest e-commerce marketplaces in the world. Moving forward we aim to utilize this powerful platform to provide agile payment management for the Sri Lankan digital economy.”
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