Increased security for Pacific region digital payments: Bank South Pacific and Netcetera team up
- Swiss payment expert Netcetera is securing online transactions for over 650,000 business banking customers in the Pacific Islands.
- This means improved conversions, optimized checkout processes, reduced fraud, and protection from fraudulent chargeback liability.
- The 3DS server is supported by the global schemes: VISA, Mastercard, UnionPay, AMEX, Diners, and JCB
ZÜRICH, SWITZERLAND - EQS Newswire - 12 April 2022 - 2022 started with full steam ahead for the Swiss payment expert Netcetera, as they teamed up with Platform Pacific Limited (Platformpac), a homegrown fintech subsidiary of Bank South Pacific Financial Group Limited (BSPFGL).
As Card Not Present (CNP) transactions become more relevant in the pandemic payment landscape, so does the need for enhanced online payment security. Through innovative technology and a team of skilled developers, Platformpac supports BSPFGL with an enabling route to extend these services to customers and merchants.
Netcetera's 3-D Secure offering provides an extra level of security to BSPFLG's core infrastructure, enabling it to extend the same level of protection to its customers and merchants such as Air Nuigini, Pacific Adventist University, Shopsmart PNG Ltd. And GoFood Ltd, to name a few.
"Given Netcetera's global reach and reputation, it was easy to decide that they are the perfect partner to help us secure the digital payments throughout our operations. This exciting collaboration opens up new advances in payment around the Pacific," said Belinda Manning, Head of Digital - Design, Development & Operations at BSPFGL.
Through the usage of Netcetera's 3DS server, BSPFLG enjoys and provides end customers compelling business benefits such as improved conversions, optimized checkout processes, reduced fraud, and protection from fraudulent chargeback liability.
Ivan Ong, Senior Business Development Executive at Netcetera stated, "In the case of Bank South Pacific, our goal is to guarantee secure online payments for over 650,000 business banking customers. Our 3DS server means service availability of 99.95%, measured and reported monthly, and supporting the needs of the bank 24/7."
3-D Secure is a globally trusted protocol for securing online transactions. It involves links between various components to ensures communication between merchants, issuers and acquiring banks during a CNP transaction. The 3DS server is the final piece in the puzzle. The customer's code or OTP is sent back to the acquiring bank, the data is secured, and the transaction is completed.
Netcetera's 3DS Server supports all new protocol versions and card network requirements, including some of the biggest scheme names, like VISA Secure, Mastercard ID Check, AMEX Safekey, Diners ProtectBuy, UnionPay UPOP/3-D secure and JCB J/Secure. Being hosted on Netcetera Payment platform in a highly secured PCI 3DS/DSS certified data, it enables strong exemptions strategy and supports configuration of multiple acquirers and merchants.
Netcetera provides continuous upgrades and updates to support all new trends and clients' requirements in the payment industry. The payment platform is constantly being upgraded to offer the best solution to its customers on how to overcome challenges, improve their conversion and grow their overall fintech business.
Netcetera is a global software company with cutting-edge IT products and individual digital solutions in the areas of secure digital payment, financial technologies, media, transport, healthcare and insurance. More than 500 banks and issuers, and 160,000 merchants rely on the digital payment solutions and globally certified 3-D Secure products of the market leader for payment security. The owner-managed company covers the entire IT lifecycle, from ideation and strategy to implementation and operation. The balanced combination of the latest technologies and proven standards ensures investment security, from large-scale projects to innovative start-ups. Founded in 1996, Netcetera is a holding company with around 800 employees and is headquartered in Zurich, Switzerland, with locations across Europe, Asia, and the Middle East.
Further information: netcetera.com
About Bank South Pacific:
BSP is the largest bank in Papua New Guinea, with 35 branches throughout the country and present in 6 countries. BSP currently services over 650,000 business banking customers throughout the Pacific, in Fiji, the Solomon Islands, Samoa, Tonga, Cooks Island
The issuer is solely responsible for the content of this announcement.