Bank of Khyber selects BPC to enhance e-commerce security

Introduction: Bank of Khyber (BOK), a prominent banking institution in Pakistan, has entered into a significant partnership with BPC, a leading financial technology solutions provider. The collaboration aims to enhance e-commerce and online transaction security for BOK’s customers through the implementation of 3D Secure authentication on Mastercard debit cards.

Key Highlights:

1. Enhanced Security Measures: All Mastercard debit cards issued by Bank of Khyber will incorporate 3D Secure authentication, aligning with the latest industry standards. This technology is designed to elevate the security of online transactions, protecting customers from unauthorized access and fraudulent activities.
2. BPC’s Role: BPC, leveraging its expertise in financial technology solutions, will facilitate the implementation of 3D Secure authentication through its international processing center. BPC has a track record of providing similar functionalities to numerous banks.
3. Formal Agreement: The official signing ceremony, attended by key representatives from both institutions, solidified the partnership. Asad Mehmood Siddiqui, Divisional Head of Digital Banking at BOK, and Furrukh Ali Baig, Managing Director for BPC Pakistan, were among the signatories.
4. Comprehensive Security Protocol: The introduction of Mastercard debit cards with 3D Secure technology is expected to provide an additional layer of security for online transactions. The 3D Secure ACS (Access Control Server) authentication protocol verifies the identity of cardholders during the payment process.
5. Launch Timeline: Bank of Khyber is set to launch secure transactions with Mastercard debit cards equipped with 3D Secure technology in the coming year.
6. Commitment to Customer Security: Asad Mehmood Siddiqui expressed the bank’s dedication to providing customers with secure and efficient banking solutions. The partnership with BPC is seen as a strategic move to enhance security and instill confidence in customers making online transactions.
7. BPC’s Commitment to Security Advances: Furrukh Ali Baig highlighted BPC’s commitment to advancing financial security technologies. The partnership aims to seamlessly integrate BPC’s cutting-edge eCommerce solutions to enhance digital transaction security in Pakistan.

About BPC:

• Founded in 1996, BPC is a global industry leader in shaping transaction solutions, focusing on quick, safe, and easy payment processing.
• The SmartVista suite, BPC’s core product, includes innovative solutions for digital banking, ATM and switching, payments processing, card and fraud management, financial inclusion, merchant portals, and smart cities.

Conclusion: The collaboration between Bank of Khyber and BPC signifies a strategic move towards reinforcing online transaction security. By implementing 3D Secure authentication, the partners aim to provide customers with a more secure and reliable digital banking experience. The partnership aligns with broader industry trends emphasizing the importance of robust security measures in the digital financial landscape.