There is this landmark achievement and a great news for Pakistanis that e-commerce gateway (Payment processing engine) is expected to surface Pakistan this month. Raseen Technologies, a part of Dhabi Group of UAE is being crowned for this triumph.
A representative from Raseen Technologies, while speaking with us confirmed that they are launching e-commerce gateway in collaboration with a local bank, very soon, most likely in same month. He was reluctant to name the bank, but I suppose it will be Bank Al-Falah, being the sister concern of Raseen Technologies – but no official words on it.
He said that with the emergence of e-commerce gateway, Pakistani businesses will be able to get merchant accounts, with a solution that their online sales will go into their local bank accounts directly. For instance, you will be able to open a merchant account, and using this ecommerce gateway, you will be able to sell services/products online – through credit cards. This sale will go into your bank account directly, which was not possible before.
We are told that PayPal will remain missing – however, this ecommerce gateway (Payment processing engine) will resolve the missing ecommerce infrastructure for online businesses of Pakistan.
Some expected features of this gateway are
Payment Cards Supported
- Credit Cards (Visa, MasterCard and American Express)
- Debit cards (Visa and MasterCard )
Authorisation of Credit and Debit Cards: It will support on-line real-time authorization of credit card payments over the web, in the call centre and in retail environments. It will also provides “authorization code” together with the transaction result within a secure environment.
Fraud Prevention: System will perform CVV2 checks on authorizations to reduce fraud in the Card Not Present (CNP) environment. This is supported in both call centre and Internet environments.
Secure Socket Layer (SSL): Raseen will deliver Authorizations using SSL encryption. This provides authentication and communications privacy over the Internet using cryptography.
Other Salient Features
- Ability to authorize and settle transactions
- Web based reporting and transaction management
- Routing of transactions based on amount, credit card ranges
- Additional customer data support with transaction
- Black-Listed cards blocking
By the way, Raseen’s this ecommerce gateway has no connection with PTA’s expected gateway, that they are going to deploy – PTA is still looking for some company to get them the solution.