CyberSource, a Visa e-commerce subsidiary, has partnered with Banque Pour Le Commerce Exterieur Lao (BCEL), Laos' largest commercial bank, to provide online payment services to merchants.
BCEL will leverage VisaNet, Visa's global processing network, to gain access to CyberSource's payments and fraud management services. These include online card acceptance and multi-channel payments for local merchants.
BCEL's clients can also use CyberSource Decision Manager, which screens orders and accesses CyberSource's data management technology to mitigate fraud.
"Acquiring banks equipped with a sound and secure payment processing system will have an edge in the relatively young and booming Laos market, due to their ability to effectively identify and manage fraud, said Lorijon Bacchi, country manager for Vietnam, Cambodia and Laos for Visa.