ISLAMABAD – 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.”
“The team at CyberSource is delighted to work with HBL,” said Ihab Ayoub, General Manager- Middle East & North Africa, Visa Middle East. “We believe that accelerating e-commerce payments is an important consumer and merchant need in Pakistan. With HBL and CyberSource joining hands, cardholders will be able to transact online conveniently and securely leading to an enriched payment experience and allowing for ecommerce adoption to significantly flourish in the country.”