OSN enhances subscriber security with CyberSource
New payment solution will help protect subscriber's payment details
Pay-TV network OSN has enhanced its online payment channel with new security solutions from CyberSource.
This follows an agreement with leading financial institution, Mashreq, and CyberSource, a Visa company, to provide secure online payment services for Mashreq Bank's merchant clients.
OSN, a merchant client of Mashreq, is among the first to leverage the significant advantages of the new relationship with CyberSource. OSN subscribers and ‘Go by OSN' users across the region will benefit from an extra cover of cyber security as the network uses CyberSource's highly secure, convenient and end-to-end online payment channel.
The significant security that the CyberSource payment gateway brings to OSN subscribers is its tokenisation service, whereby all sensitive credit/debit card related data is replaced with a unique identifier (or token). Through this system, card data entered by customers is immediately encrypted and transmitted to CyberSource's Payment Card Industry (PCI)-compliant data vault.
The actual card data, therefore, never enters OSN's system; only the tokenised number is stored in the ERP system.
"In today's era of technology specialisation, it is important to leverage the significant strengths that global experts bring to our business. The agreement with Mashreq and CyberSource will help ensure total security and convenience for OSN customers for any card transaction - whether it's through our award-winning customer service center, at an OSN point of sale or online via our website," said David Butorac, CEO of OSN.
"The early adoption of the state-of-the-art payment channel is a strong testament of our continued commitment to invest in the most advanced technologies to enhance the customer experience." he added.
"Mashreq prides itself in building market defining propositions and we are delighted to launch this innovative online payment product with one of our key partners, OSN. This is the first large scale implementation of a state of the art secure and encrypted form of card data usage and storage ‘Tokenization' as a payment mode in the country. Besides vastly improving the online payment experience for users it will create an unparalleled level of data security," adds Nimish Dwivedi, Head of Payments of Mashreq.
"We are excited to work with Mashreq," said Gups Jutla, Head of Business Development, MENA, CyberSource. "We believe this agreement helps Mashreq to provide fast, safe and a seamless buying experience to its merchant customers thereby accelerating the adoption of online payments.
"OSN, one of the most significant clients of Mashreq is the first to benefit from this new agreement with CyberSource. We are confident that an effective and secure payment management system will help enhance OSNs end-customers' experience, and improve customer retention and loyalty," Jutla added.