Navigating the complex global e-commerce space could be made easier by a simple, integrated e-payment solution that lowers barriers to entry and expands merchants’ access to high-growth markets such as China.
Easier said than done, but NTT Communications Corp. believes its newly launched payment solution could turn the tide by leveraging its global presence and strengths in the IT infrastructure.
Tyrone Lynch, Vice President, eBusiness of NTT Com Asia, said the company polled 200 US and European merchants and 99 percent reported that the key challenges of doing e-commerce in Asia include dealing with different domestic payment methods, currency restrictions, tax regulations, and high transaction costs.
“Our experts work with merchants closely to help define and implement payment strategies that yield optimized results. Our omni-channel solution also supports merchants’ evolution to new payment models, such as online-to-offline (O2O) commerce,” he said.
Developed by NTT Com Asia, the company’s East Asia Headquarters, the new payment solution is a single, simple integration gives access to multiple acquirers and payment methods around the world.
With comprehensive coverage of transaction currencies and local payment methods, merchants can give their customers the ability to pay by the method that is most convenient. Merchants can also manage the entire payment value-chain through a single point of contact and simple, one-time integration.
The solution also provides centralized reconciliation and reporting, with real-time data analytics and business intelligence on a transactional level.
Meanwhile, advanced security tools such as velocity checks, BIN (Bank Identification Number) verification, 3D secure, and market-specific authentication methods help manage risk and lower the chance of fraudulent transactions. Other features such as tokenisation protect sensitive customer data in accordance with Payment Card Industry Data Security Standards (PCI DSS) Level 1 standards.