Visa company and eCommerce payment management services provider, CyberSource has signed an agreement with Vietnamese retail bank, Sacombank, to provide payment and fraud prevention solutions to support the bank’s merchant customers amid rapid growth in online sales. A recent report showed that at the end of 2010, there were 26.8 million internet users in Vietnam, of whom 42% were online shoppers. The deal will allow Sacombank’s merchant customers to adopt eCommerce best practices and technology.
"Our merchant customers will welcome the innovative technology we are now able to provide. It will help them protect their sensitive data and prevent fraud, while helping maintain maximum acceptance of legitimate transactions," said Nguyen Thi My Thuyen, Sacombank Card Center Director. "Teaming up with CyberSource is in line with our stated goal to incorporate international standards and best practices into our environment to ensure operational safety, efficiency and sustainable development."