Jetco has partnered Visa subsidiary CyberSource to capture a larger share of the online payments market.
The agreement helps financial institutions in Hong Kong and Macau expand their merchant-acquiring businesses for online retailers and offer them the latest popular payment options including digital mobile payment options like Visa Checkout and in-app purchase.
The partnership enables the two companies to leverage on one another’s complementary strengths. Coupling Jetco’s bank network and local industry expertise with CyberSource’s eCommerce payment platform, the Jetco payment gateway service now offers businesses in the two territories to offer various types of card and alternative payment options in a fast and secure manner.
Jetco will now offer enhanced online payment security featuring CyberSource’s payment tokenisation, as well as rich fraud analytics and real time fraud detection via CyberSource Decision Manager. CyberSource says these value-added services will ensure lower fraud risk and streamline the checkout process, while consumers can enjoy a quick, secure and hassle-free eCommerce online payment journey.
Teresa Wong, head of market development with CyberSource Asia Pacific, says consumers in Hong Kong are tech savvy and more connected than ever with internet penetration standing at 79 per cent, while eCommerce is on the rise with mobile shoppers making 23 per cent more purchases on the go.
“Hong Kong’s digital commerce space has immense growth potential and merchants are increasingly looking to tap into the growth opportunity in this space.”