This strategic agreement enables PAYSBUY to deliver secure online payment services to its merchants.
Through CyberSource’s payment tokenization service, PAYSBUY and its merchants will be able to store valuable customer card information as tokens, which offer greater payment security, in a Payment Card Industry Data Security Standards (PCI DSS) compliant environment.
Each token is a unique identifier that replaces the consumer’s payment data; this is possible by removing the customer’s account number from the merchant environment and storing it on CyberSource’s secure servers.
“Our goal at PAYSBUY is to increase revenue through customer retention. This partnership with CyberSource will enable our merchants to store card payment data securely for returning customers via payment tokenization and help us achieve PCI compliance. Being able to mitigate risk and ensure payment security for our merchants will instill greater confidence in their customers. The trust built can establish PAYSBUY as the preferred partner of choice for merchants in the Thailand eCommerce business,” said Somwang Luangphaiboonsri, General Manager, PAYSBUY.
“CyberSource believes that a robust payment gateway platform, together with the ability to ensure payment security, provides a critical competitive edge for eCommerce players to sustain growth in the industry. We are working with PAYSBUY to ensure payments are secure, while providing an array of payment acceptance options that they can extend to their merchant customers. An effective and secure payment management system provides confidence for PAYSBUY’s merchants, thereby increasing their ability to enhance end-customers’ experience, and improve customer retention and loyalty,” said Chew Ann Wee, Regional Sales Director, Southeast Asia, CyberSource.
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