#HBL,
Pakistan’s largest bank, has launched Internet Acquiring in partnership with
Visa Inc’s CyberSource. This new service will allow e-commerce businesses to
accept payments online through Visa and other scheme credit and debit cards.
This
was jointly announced by Mr. Ihab Ayoub, General Manager - Middle East &
North Africa, Visa Middle East and Mr. Faiq Sadiq, Head – Payment Services, HBL
at a ceremony held at Visa Middle East office in Dubai, UAE. Also present at
the occasion were senior executives of both organizations.
CyberSource
is a payment management company, providing a complete portfolio of services to
process online payments, streamline fraud management, and simplify payment
security. Established in 1994, CyberSource was one of the pioneers in online
payment and fraud management services for medium and large-sized merchants. In 2010
CyberSource was acquired by, and now operates as a wholly-owned subsidiary of,
Visa Inc. Today, over 400,000 businesses worldwide use CyberSource solutions.
Speaking
at the occasion Mr. Faiq said, “HBL is proud to partner with Visa to launch its
CyberSource solution in Pakistan that will enable the bank to facilitate the
growing e-commerce businesses in terms of online acceptance of payment using
Visa and other payment scheme cards. HBL currently has the largest ATM network
and Visa card base in Pakistan and now intends to become the largest card
acquirer. HBL has launched Internet Acquiring with Aga Khan Hospital’s Patient
Behbud Society for donation collection and will be bringing on other businesses
such as airlines, telecommunication operators and other service providers in
2014.”
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