The agreement enables BCEL to expand its business, both locally and regionally, by offering secure online payment services to its merchant customers.
Using the CyberSource through VisaNet (CTV) solution, BCEL will gain access to CyberSource payment processing and fraud management services through the bank's existing connection to Visa.
In addition, this will allow us to provide a good foundation for the growth of a secure eCommerce market in Laos and contribute to the overall growth of the country," said Somchanh Visisombath, Head of Marketing Division, BCEL.
Decision Manager provides the ability to automatically screen more orders more accurately, based on insights from the over 60 billion transactions processed annually by Visa and CyberSource, leading to streamlined fraud management operations for BCEL and its merchant customers.
The partners of BCEL
have worked together since founding Europe's first Communications fund, Baring Communications Equity Limited, in 1992, and have created three funds over the intervening years, making more than 20 investments across 13 countries.