JETCO Joins Hands With CyberSource to Offer the Most Comprehensive Payment Gateway Services for eCommerce in Hong Kong

PR66450

HONG KONG, Nov. 8, 2016 /PRNewswire=KYODO JBN/ --

Merchants can now enjoy world-class payment gateway services with advanced

fraud management features and payment options, including Visa Checkout and

in-app purchase

Joint Electronic Teller Services Limited (JETCO) proudly collaborates with

CyberSource, a Visa Inc. company (NYSE: V) and one of the world's largest

providers of eCommerce payment management services, to capture the growth

opportunity in eCommerce and reinforce JETCO as a one-stop provider of

eCommerce payment solutions for consumers, businesses and merchants. This

agreement helps financial institutions in Hong Kong and Macau to expand their

merchant acquiring businesses for online merchants and offer them the latest

popular payment options including digital mobile payment options like Visa

Checkout and in-app purchase.

This agreement enables the two companies to leverage on one another's

complementary strengths. As a result of coupling JETCO's extensive bank network

and local industry expertise with CyberSource's world class eCommerce payment

platform, the JETCO payment gateway service now caters to the largest range of

Hong Kong and Macau online businesses by offering various types of card and

alternative payment options in a fast and secure manner. This agreement will

also allow JETCO to 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. These value added

services will further ensure lower fraud risk and streamline the checkout

process, while consumers can enjoy a quick, secure and hassle-free eCommerce

online payment journey.  

As part of the collaboration, JETCO's eCommerce merchants will eventually

benefit from CyberSource Decision Manager, which features the World's Largest

Fraud Detection Radar to screen transactions against insights from over 68

billion transactions processed by Visa and CyberSource annually.

Teresa Wong, Head of Market Development, CyberSource Asia Pacific, said:

"Consumers in Hong Kong are tech savvy and more connected than ever with

internet penetration standing at 79%[1], while eCommerce is on the rise with

mobile shoppers making 23% more purchases on the go[2]. Hong Kong's digital

commerce space has immense growth potential and merchants are increasingly

looking to tap into the growth opportunity in this space. CyberSource is

delighted to work with JETCO to enable an enhanced and secure online payment

solution so as to support the company's member banks to achieve its business

objectives."

[1] Consumer Barometer 2015

[2] 2015 Visa eCommerce Consumer Monitor Survey

JETCO Chief Executive Officer Angus Choi described the collaboration as a

significant development in JETCO's payment gateway offerings, saying: "Our

collaboration with an industry leader like CyberSource will not only offer our

member banks access to advanced payment gateway services, but also provide

strong local support while they expand their merchant acquiring business. In

order to make eCommerce payment processing easy for businesses, we are always

striving to offer total payment solutions suited for the varied business needs

of merchants, which will in turn provide consumers a seamless online shopping

experience."

About Joint Electronic Teller Services Limited

Joint Electronic Teller Services Limited ("JETCO") was established in 1982 by

five banks, namely, Bank of China (Hong Kong) Limited; The Bank of East Asia,

Limited; OCBC Wing Hang Bank Limited (formerly Chekiang First Bank Limited);

Shanghai Commercial Bank Limited and Wing Lung Bank Limited. In 2015, China

UnionPay Co. Ltd. became a strategic investor of JETCO. Today, JETCO has over

30 member banks in Hong Kong and Macau and supports a range of banking services

to these member banks covering both regions.

JETCO currently operates more than 3,000 ATMs in Hong Kong, Macau and over 20

cities across mainland China offering convenient and reliable local and

cross-border ATM services. JETCO also provides a range of value-added services

to help member banks deliver innovative and secure online and mobile banking

services to their customers. In early 2016, the company launched the JETCO Pay

P2P inter-bank platform in partnership with 12 banks, which allows customers of

these banks to transfer funds directly to account holders of major local banks

anytime and anywhere with just the recipient's mobile number.

For more details, please visit www.jetco.com.hk.

About CyberSource

CyberSource, a wholly-owned subsidiary of Visa Inc., is a payment management

company. Over 475,000 businesses worldwide use CyberSource and Authorize.Net

brand solutions to process online payments, streamline fraud management, and

simplify payment security. The company is headquartered in Foster City,

California and maintains offices throughout the world, with regional

headquarters in Singapore, Tokyo, Miami/Sao Paulo and Reading, U.K. For more

information, please visit www.cybersource.com/asiapacific.

Jareth Cheng

Ying Communications

+65-3157-5628

jareth.cheng@yingcomms.com

SOURCE  CyberSource