ComBank launches CyberSource IPG Solutions in partnership with Visa

Wednesday, 13 May 2020 01:17 - - {{hitsCtrl.values.hits}}

The Commercial Bank of Ceylon, Sri Lanka’s largest payment card issuer, has announced a new partnership with Visa Inc., the global payments technology leader, to launch CyberSource, a global payments management platform that will further expand the array of payment services available to any merchant looking for digital payment solutions.

CyberSource enables Visa to offer merchants a one-stop technology solution for accepting payments. Merchants of all sizes can improve the way their customers engage and transact, mitigate fraud and security risk, lower operational costs and adapt to changing business requirements. The solution covers payment security features such as the Payment Card Industry Data Security Standard (PCI-DSS) certification as required by the payment schemes and 3D Secure authentication that safeguards sensitive payment data and protection against e-commerce frauds. It provides unified commerce capabilities to deliver seamless, omni-channel commerce experience; and additional services such as payouts, analytical tools, and support for mobile apps.

With Commercial Bank launching CyberSource, merchants using this solution can receive payments from their customers via ecommerce platforms. The integration process involves merchants working with the Bank who will connect their websites to CyberSource and facilitate Visa and Mastercard card payments.

Visa in Sri Lanka and the Maldives Country Manager Anthony Watson said: “As Sri Lanka continues on its transformational digital journey, e-commerce too is growing rapidly with the reach of mobile and internet connectivity expanding among consumers across the island. We are very pleased to provide Commercial Bank of Ceylon a secure payment gateway service with CyberSource and with such partnerships will continue to empower Sri Lanka with more industry leading payment products.”

Visa Merchant Acquiring and CyberSource, India and South Asia Head Shailesh Paul said: “CyberSource is a robust payment solution that has been trusted by merchant businesses internationally to offer a secure digital commerce experience to their customers. We are excited to partner with Commercial Bank of Ceylon to bring this solution to Sri Lanka as a value-added acceptance solution and support the growth of Sri Lanka’s e-commerce merchants.”

The launch of CyberSource will enhance the quality and versatility of payment processing services provided by the Commercial Bank of Ceylon, enhance customer service experience for merchants by providing a secure environment, and for online shoppers by simplifying the e-Commerce experience.

Commenting on the milestone launch of CyberSource, Commercial Bank Chief Operating Officer Sanath Manatunge said: “The success of e-Commerce is driven by the overall experience of both the merchant and the customer, which is determined principally by safety and ease of use. With CyberSource, every key aspect is covered.”

Commercial Bank Deputy General Manager – Marketing Hasrath Munasinghe added: “The timing of this launch couldn’t be better, given the added emphasis on e-Commerce solutions as a result of the lockdowns associated with the COVID-19 pandemic. We believe that the higher volume of transactions being witnessed will continue even after restrictions are eased, as more people experience the convenience of e-Commerce.”