CyberSource, PAYSBUY forge strategic partnership

Ike Suarez

The Foster City, California-based CyberSource, provider of e-commerce payment management services, has entered into a strategic partnership with the Thai online payment services provider, PAYSBUY as the latter seeks to expand its business internationally.

This it intends to do by delivering secure online payment services to its merchants.

A press statement by CyberSource said that its payment tokenisation service along with its hosted payment page solution, Secure Acceptance, will enable PAYSBUY to do so.

Unique Identifier

The payment tokenisation service will equip PAYSBUY and its merchants to store valuable customer card information as tokens in a Payment Card Industry Data Security Standards (PCIDSS) compliant environment, which will offer greater payment security.

Each token will be a unique identifier that replaces the consumer's payment data, allowing merchants to securely streamline their checkouts for repeat customers.

Making this possible will be removal of the customer's account number from the merchant environment and storing it on CyberSource's secure servers.

PAYSBUY and its merchants will have no more need to handle full credit card details, ultimately increasing merchants' data security.

Together with Secure Acceptance, tokenisation will allow PAYSBUY to remove the need for repeat customers to key in their payment details with every payment transaction.

As a result, such customers will be able to check out with just one click.

PAYSBUY is regulated by the Bank of Thailand even as CyberSource is a wholly-owned subsidiary of Visa Inc.