PNB taps AsiaPay for online payment

MANILA, Philippines – Philippine National Bank (PNB) has tapped leading payment service provider AsiaPay for a strong, user-friendly, and dynamic authentication system to mitigate fraud and protect both cardholders and the bank from any liability.

Norman Martin Reyes, chief marketing officer at PNB, said the partnership is timely as more Filipinos start to embed online shopping into their lifestyles.

The volume and frequency of fraudulent transactions are expected to unfortunately and inevitably rise amid the growth of e-commerce in the Philippines.

The leading payment service provider in the Asia-Pacific region would provide 3D-Secure Access Control Server (ACS) solution to PNB.

AsiaPay will provide 3D-Secure Access Control Server (ACS) solutions to PNB.

“Strengthening our cardholder authentication is the key in building consumer trust in the digital economy. With 3D-Secure ACS enabled, PNB cardholders will be able to enjoy a safer online shopping and payment experience online,” he said.

AsiaPay’s ACS solution is an online security protocol that allows issuing banks to participate in a 3D-Secure program. It adds an additional authentication layer during e-commerce transactions.

Cardholders will be required to use either a static or dynamic password to verify their identity whenever they shop online. This further secures cardholders who shop on merchant websites that are subscribed to 3D-Secure schemes such as MasterCard SecureCode and Verified by Visa.

AsiaPay Group chief executive officer Joseph Chan said the company is pleased to partner with PNB.

“The implementation of 3D-Secure ACS will certainly aid in keeping PNB’s customer payment data secure without compromising the shopping experience at checkout. Rest assured, we will deliver a robust and safe payment experience to thousands of PNB cardholders worldwide,” Chan said.