HONG KONG, May 5, 2015 /PRNewswire/ -- CyberSource, a wholly-owned subsidiary of Visa Inc.(NYSE: V), and one of the world's largest providers of eCommerce payment management services, today announced a partnership with Television Broadcasts Limited (TVB), a leading free-to-air TV broadcasters in Hong Kong and one of the largest commercial Chinese program producers in the world. This agreement will allow TVB's internet portal TVB.com to provide secure online payment acceptance services, as they continue to grow their business by enabling customers to purchase content from their web and mobile channels easily and safely.
Through this partnership, TVB.com will be able to leverage CyberSource's global payment gateway services to process online payments from various card types from multiple issuers, made on both web and mobile channels, with options for recurring billing as well. To further streamline the checkout process, TVB.com will also utilize CyberSource Secure Acceptance services to enable instant checkout for returning customers.
Boasting one of the world's highest average Internet connection speeds, Hong Kong's household broadband and mobile penetration rates are high at 85 percent and 231 percent, respectively[1]. Merchants are increasingly looking to tap into the eCommerce and mCommerce opportunity in Hong Kong.
As traditional television viewing behavior converges with new media platforms, combined with high penetration of internet-connected devices, there is a growing demand for television programs anywhere, anytime and on any device. TVB.com hosts TVB program contents for round-the-clock entertainment and news services, including web and mobile applications, such as myTV, TVB News and TVB Finance, catering to diverse customer segments.
"We consistently strive to deliver the best customer experience, which plays a vital role in driving our business growth. We trust that putting in place a simple and seamless online payment services for our customers is the first key step in facilitating our venture into the paid media world. With CyberSource's solutions, we can accept varied modes of payments according to our viewers' preferences, taking customer experience to the next level. We also see a huge benefit in CyberSource's payment solutions, which enables us to customize different packages to cater to our distinct customer segments," said Wayne Lam, eCommerce Manager, TVB.
CyberSource's online payment solution provides TVB with access to secure payment acceptance and comprehensive payment management services, via a single connection. TVB will be able to process a wider spectrum of payment methods, while extending its business to the digital media space.
"As a market that is steeped in technology, Hong Kong's eCommerce and mCommerce market has immense growth potential. We are proud to work with TVB to build an efficient and effective online payment environment. By ensuring a seamless and secure end-to-end customer experience, we hope to help the company achieve its business objectives of increasing customer retention, protecting its brand, and ultimately expanding globally," said Poon Khye Wei, Regional Director, Greater China and Korea, CyberSource.
| [1] Hong Kong Commerce and Economic Development Bureau, Public Consultation on 2014 Digital 21 Strategy: Smarter Hong Kong, Smarter Living, September 2013 |
About CyberSource
CyberSource, a wholly-owned subsidiary of Visa Inc., is a payment management company. Over 400,000 businesses worldwide use CyberSource and Authorize.Net brand solutions to process online payments, streamline fraud management, and simplify payment security. The company is headquartered in Foster City, California and maintains offices throughout the world, with regional headquarters in Singapore, Tokyo, Miami/Sao Paulo and Reading, U.K. CyberSource operates in Europe under agreement with Visa Europe. For more information, please visit http://www.cybersource.com/asiapacific.
About Television Broadcasts Limited (TVB)
Television Broadcasts Limited (TVB) is the first wireless commercial television station in Hong Kong. Headquartered in Hong Kong, TVB was established in 1967, and provides round-the-clock entertainment channels and news service to over 7 million Hong Kong viewers, and operates an international licensing and distribution business. Many of the programmes produced in Cantonese are dubbed into Mandarin and other languages, and are distributed worldwide, including Asia (covering Mainland China, Taiwan, Malaysia, Singapore), Australia, North and South America, and Europe, accessible to over 300 million households. Today, TVB has over 4,600 staff and artistes worldwide. Their internet portal tvb.com is the official website of TVB and has been in operation since 2000. It hosts TVB programme contents, available to viewers for catchup. The diverse portfolio includes TVB News, TVB Finance and myTV on mobile and web platforms. Visit http://corporate.tvb.com/ for more information.
Services provided by CyberSource Corporation or CyberSource International, Inc.
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Felicia Ang
Ying Communications
+65 9113 9636
felicia.ang@yingcomms.com
