South African financial services group Absa is deploying a range of technology platforms from Trintech in the roll-out of a new, secure B2B and B2C online payment service.
Under the agreement, the South African bank will use PayWare eAcquirer, PayWare Guardian and PayWare eIssuer, as the infrastructure backbone for its online payment service.
PayWare eIssuer enables the bank to issue online payment cards to its individual and corporate customers allowing them to execute secure payment online using their credit and debit cards. PayWare Guardian works in parallel with eIssuer by generating a pseudo card number in place of the actual card number that is presented to the merchant for payment. Finally, PayWare eAcquirer enables the bank to capture physical and Internet-based merchant transactions.
The service will be deployed nationally to Absa's 860,000 credit cardholders, 7.3 million debit cardholders and 250,000 merchants. It will support Visa, MasterCard, Visa Electron and MasterCard Maestro card payments and Visa Purchase Card transactions via the Internet.
Pieter van Wyk, deputy operating executive at Absa, says the Internet holds enormous potential to increase efficiencies and improve the customer experience. "Going forward, we are looking to expand our e-business strategy into new channels, devices and services," he says.