GHL Systems Berhad has enabled MyDebit Secure CNP (Card-Not-Present) from Payments Network Malaysia Sdn Bhd (PayNet) which is set to benefit over 1,500 of GHL’s online merchants.
GHL is the latest PayNet ecosystem participant to offer the more secure and safer online card-not-present payment solution in this country. Among GHL’s key online merchants that will benefit from this enablement are Best Buy World Malaysia, Easystore Commerce, Nihon Skin, EGroup Tech and CLT Asia Sdn Bhd (Camel Active online retailer).
Forbes reported 20.8% retail purchases globally are expected to take place online this year. By 2026, it is expected to grow to 24%. Global retail e-commerce transactions value is expected to reach USD6.3 trillion this year, led by the Asia Pacific region growing at over USD2 trillion in revenue. An undesired ‘side-effect’ is increased fraud attempts. Research by Vesta estimates online payment fraud ranges 10-13% of global transactions with an average value of USD126 to USD135. This fueled demand for 3D secure payment authentication solutions like MyDebit Secure CNP that offers protection from fraud to both merchants and customers regardless of the device used to make or receive online payments – mobile, desktop or tablet. Capable of being delivered via merchant plug-ins or bank applications, both these MyDebit Secure CNP enablements are designed to facilitate 3D secure payment verifications to assist fraud prevention in online debit card purchases.
