Retail in Asia

In Trends

China’s PayEase, Cybersource offer fraud protection for online payments

Chinese payment-service pioneer PayEase recently signed a new agreement with CyberSource, a Visa company,for the provision of fraud management services to protect Chinese domestic online payments.

PayEase was the first mainland China payment service provider (PSP) to use CyberSource’s Decision Manager for cross-border transactions in 2009. The new expanded deal will cover PayEase’s domestic China business.

Poon Khye Wei, Regional Director of Greater China and Korea for Cybersource, said Decision Manager helps detect fraudulent behavior using a wide array of tests. PayEase will use the feature for managing domestic fraud and allow it to provide a more convenient, safer method of payment in the domestic market.

Online retail sales in China have soared in recent years and are expected to hit USD360 billion by 2015, according to The Boston Consulting Group, up from around USD121 billion in 2011.