PayEase increases fraud protection for China online payments

PayEase has signed a new agreement with CyberSource for the provision of fraud management services to protect Chinese domestic online payments, announced Chinese payment-service pioneer today.

CyberSource is a Visa company and one of the world's largest providers of eCommerce payment management services.

The two companies have been in a business relationship since 2009 when PayEase became the first mainland China payment service provider (PSP) to use CyberSource's Decision Manager for cross-border transactions.

The significance of this expanded deal is that it will cover PayEase's domestic China business - another first, said the company in a media statement.

"PayEase has successfully used Decision Manager for cross-border fraud control over the past few years and recognises the value it brings to their growing and expanding business," said Poon Khye Wei, regional director of Greater China and Korea for Cybersource. "Decision Manager helps detect fraudulent behaviour using a wide array of tests. PayEase will continue to benefit from this powerful feature when it starts to use Decision Manager for managing domestic fraud. This will enable PayEase to provide a more convenient, safer method of payment in the domestic market."

The add-on development work has been completed and the enhanced service is now available, said the service provider.

Online retail sales in China have soared in recent years and are expected to hit US$360 billion by 2015, according to The Boston Consulting Group, up from around US$121 billion in 2011.

Tags PayEasee-commercesecurityinternetfraudCyberSource


Comments are now closed

CSO Corporate Partners
  • f5
  • Webroot
  • Trend Micro
  • NetIQ
rhs_login_lockGet exclusive access to CSO, invitation only events, reports & analysis.
CSO Directory

Sophos SafeGuard Enterprise

Your central key for data protection

Security Awareness Tip
Security ABC Guides

Warning: Tips for secure mobile holiday shopping

I’m dating myself, but I remember when holiday shopping involved pouring through ads in the Sunday paper, placing actual phone calls from tethered land lines to research product stock and availability, and actually driving places to pick things up. Now, holiday shoppers can do all of that from a smartphone or tablet in a few seconds, but there are some security pitfalls to be aware of.