PRESS RELEASE: GHL LAUNCHES PAYNET'S MYDEBIT SECURE CARD-NOT-PRESENT FOR SAFER ONLINE TRANSACTIONS

Key Highlights:
  • GHL enables MyDebit Secure for its merchants utilising the online payment gateway. This allows the use of MyDebit cards for online purchases, enhancing the security of online transactions and reducing the risk of fraud.
  • GHL is the latest PayNet ecosystem participant to enable MyDebit Secure Card-Not-Present (CNP), over 1,500 of its online merchants stand to benefit from more secure online payments
  • MyDebit Secure CNP adopts latest 3D Secure Payment technology security protocols to better serve needs of fastest growing region for retail e-commerce and 3D Secure Payments.
Kuala Lumpur, MALAYSIA: GHL Systems Berhad (GHL) announced earlier today that it 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.

GHL Malaysia’s CEO, Kevin Lee said, “As the e-commerce industry continues to grow rapidly, we understand that merchants need reliable payment solutions to protect their business and their customers. With MyDebit Secure CNP, our merchants can now offer their customers a more secure and convenient way to pay online without compromising on their shopping experience.”

Gary Yeoh, Chief Commercial Officer of PayNet said, “Malaysia lies within Asia Pacific, the ‘sweet spot’ growth region of retail e-commerce. This is alongside the rise of 3D secure payment authentication market which is set to exceed USD2.76 billion by 2030, again led by the Asia Pacific region. With MyDebit Secure CNP, PayNet aims to better support our ecosystem participants capture their share of these enormous opportunities and meet their customer demands for safer and more secure online CNP payments using the latest 3D secure technology protocols, regardless of size, type, or location.”