City Bank Limited, one of the largest acquirers of online transactions in the country, has partnered with Mastercard to integrate Mastercard Payment Gateway Services (MPGS) that enables simple, secure acceptance of a range of digital payment methods such as buying products and services online, add money from card to mobile wallets for City Bank customers.
Through this partnership and by facilitating MPGS cardholders, merchants, and industry partners will benefit from a range of features including enhanced user experience in digital payment and advanced fraud and risk management capabilities that detect consumer fraud with speed and accuracy. This solution will provide an advantage to City Bank of using Mastercard Gateway technology as their own, offering the bank's customers with the option to buy online goods and services using the payment method of their choice.
Mashrur Arefin, Managing Director & CEO, City Bank, "Embodied with consistency, innovation, and strong competence in catering to the needs of customers and investors in the fast-evolving Bangladesh market, the City Bank Limited is pleased to announce the launch of the City Bank Payment Gateway services for its valued customers. In collaboration with Mastercard, this service platform is designed to give businesses and customers the most convenient and secured way to conduct business online."
Syed Mohammad Kamal, Country Manager, Bangladesh, Mastercard said, "With Mastercard Payment Gateway Services (MPGS), Mastercard aims to partner with City Bank to deliver enhanced purchase experiences with MPGS by provisioning the option to buy online goods and services to City Bank customers. The unique combination will help merchants accept digital payments from multiple sources across the world and expand their business into new markets."
The MPGS platform offers a range of value-added services that improve the user experience and provide merchants with a competitive advantage. These include hosted payment options, two-factor authentication which guarantees protocols by reducing merchants' need to handle sensitive consumer card information, flexible payment schedules that allow cardholders to set up recurring payments, tokenisation to boost security, eliminating the need to re-enter card details when processing multiple transactions from the same merchant, a sophisticated merchant management portal including a dashboard interface, virtual terminal and online reporting functions.