GHL Taps PayNet’s MyDebit Secure Card-Not-Present for Safer Online Paymentsby Fintech News Malaysia April 11, 2023 0 comments
Payment solutions provider GHL Systems announced that it has enabled MyDebit Secure CNP (Card-Not-Present) from Payments Network Malaysia (PayNet) which is set to benefit over 1,500 of its online merchants.
A CNP transaction is a payment card transaction made where the cardholder is not physically present at the merchant when the payment is made.
GHL is the latest PayNet ecosystem participant to offer the more secure and safer online card-not-present payment solution in this country.
Capable of being delivered via merchant plug-ins or bank applications, both these MyDebit Secure CNP enablements are designed to facilitate 3D secure payment verifications to assist fraud prevention in online debit card purchases.
This offers protection from fraud to both merchants and customers regardless of the device used to make or receive online payments – mobile, desktop or tablet.
Kevin Lee, CEO of GHL Malaysia said,
“As the e-commerce industry continues to grow rapidly, we understand that merchants need reliable payment solutions to protect their business and their customers.
With MyDebit Secure CNP, our merchants can now offer their customers a more secure and convenient way to pay online without compromising on their shopping experience.”
Gary Yeoh, Chief Commercial Officer of PayNet said,
“Malaysia lies within Asia Pacific, the ‘sweet spot’ growth region of retail e-commerce. This is alongside the rise of 3D secure payment authentication market which is set to exceed US$ 2.76 billion by 2030, again led by the Asia Pacific region.
With MyDebit Secure CNP, PayNet aims to better support our ecosystem participants capture their share of these enormous opportunities and meet their customer demands for safer and more secure online CNP payments using the latest 3D secure technology protocols, regardless of size, type, or location.”