Network International selects CyberSource’s eCommerce Payment and Fraud solutions in the Middle East

  • First merchant acquirer in the Middle East to leverage world’s largest fraud detection radar for online payments

  • Acquiring banks can leverage existing VisaNet connection to offer eCommerce payment management services via ‘CyberSource through VisaNet’

  • UAE businesses can accept a wide range of payment cards online, securely and reliably

Dubai, UAE: February 3, 2013 —

Network International (NI), a leading provider of payment solutions in the Middle East and CyberSource, one of the largest global providers of e-Commerce payment management services, announced a partnership today that will enable NI to offer secure online payment services to its merchant partner base.

The formal agreement combines the strength and regional experience of Network International, the worldwide reach and security of VisaNet and the reliable eCommerce payment processing, fraud and payment security management services of CyberSource.

“As the largest merchant acquirer in the UAE, Network International is committed to supporting its extensive merchant base to grow their businesses through providing fast, efficient, scalable and convenient payment solutions,” said Samer Soliman, Senior V-P Head & Acquiring, Network International. “The collaboration with CyberSource is a significant step towards delivering on this commitment, while addressing today’s risk and data security challenges.”

“With the UAE accounting for almost 60 per cent of the region’s total eCommerce sales, CyberSource’s ecommerce solutions that include real-time fraud detection and payment security management will prove to be vital for our merchant partners,” he added.

Acquired by Visa (NYSE: V) in 2010, CyberSource, a VISA company, is one of the world‘s largest providers of eCommerce payment management services, and provides a complete portfolio of services that simplify and automate payment operations, including processing online payments, streamlining fraud management, and simplify payment security.

“Visa is dedicated to developing secure electronic payments for banking and merchant communities across the Middle East. By driving the eCommerce agenda, Visa and CyberSource are focused on providing advanced payment management services, offering consumers more choice, together with a seamless online shopping experience,” said Kamran Siddiqi, General Manager for Visa MENA.

The CyberSource through VisaNet programme allows acquiring banks to use their current VisaNet connection and enable their merchants to accept a range of payment cards online. NI is the first merchant acquirer in the Middle East to leverage this programme to offer a full suite of eCommerce services to its merchants in the UAE.

“We, are delighted to work with Network International,” said Simon Stokes, Managing Director, EMEA, CyberSource. “We believe this agreement can help NI to accelerate adoption of online payments amongst its merchant base in UAE, whilst reducing the risk of fraud and protecting against payment data theft—resulting in new revenue streams and ultimately helping to fuel the growth of eCommerce spend in the region.”

NI’s merchants also benefit from CyberSource Decision Manager, a sophisticated, real-time fraud solution. Decision Manager includes the world‘s largest fraud detection radar, bringing insights from over 60 billion global transactions processed by Visa and CyberSource annually, plus advanced detection technologies such as device fingerprinting.

About Network International

Established in 1994, Network International LLC is the largest acquirer, and one of the leading payment solutions providers in the Middle East, geared to meet the needs of banks, financial institutions and large and individual retailers. It is a Principal Member of Visa International and MasterCard International for the UAE, offering customers the most comprehensive range of payment products and services for both the Issuing and Acquiring segment of the card payment industry. Offerings include credit and debit card processing services, ATM management and monitoring, merchant acquiring plus consumer finance applications. Network International provides consultancy services ranging from planning and designing, to developing of new card and consumer finance products and services.

Network International is the first independent vendor certified by both Visa & MasterCard for card payments in the Middle East. It is the UAE's largest payment acquirer for Credit & Debit Cards and the largest third-party processing vendor offering complete EMV certified solutions as institutions migrate to EMV Smart Card technology.

For Further information, please contact:

Network International
Sudha Chandran/ Ajith Henry
Tel: +971 4 4507600
Email: Sudha.chandran@bm.com / Ajith.henry@bm.com

About CyberSource

CyberSource, a wholly-owned subsidiary of Visa Inc., is a payment management company. Over 390,000 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 San Francisco, and maintains offices throughout the world, with regional headquarters in Singapore (Asia Pacific); Tokyo (Japan), Miami/Sao Paulo (Latin America and the Caribbean), and Reading, U.K. (Europe/Middle East/Africa). CyberSource operates in Europe under agreement with Visa Europe. For more information, please visit www.cybersource.com/mea.

For further information, please contact:

CyberSource:
Sunayana Kripalani
+9714 4372320
sukripal@cybersource.com

About Visa

Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks —VisaNet — that is capable of handling more than 24,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

Global Corporate Relations:

Elvira Swanson
globalmedia@visa.com