Deal builds on relationship between PayEase and Cybersource that began in 2009
Chinese payment-service provider PayEase will partner with Cybersource to provide fraud management services to protect online domestic payments in China. The Boston Consulting Group has recently stated that online retail sales in China are expected to reach US$360 billion by 2015.
The new deal builds on the relationship between PayEase and Cybersource that began in 2009 when PayEase began using Cybersource’s Decision Manager to handle cross-border transactions. The Decision Manager service detects fraudulent activity through utilising a number of tests.
“PayEase will continue to benefit from this powerful feature when it starts to use Decision Manager for managing domestic fraud. This will enable PayEase to provide a more convenient, safer method of payment in the domestic market,” said Poon Khye Wei, Regional Director of Greater China and Korea for Cybersource.
With the rapid growth of China’s online and e-commerce shopping and payments services, payment security and fraud management are vital to continued growth.
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