Leading Pakistani banking institute, the Bank of Khyber (BOK), has entered into a strategic partnership with fintech platform BPC to enhance its online security and e-commerce performance.
Under the agreement, all Mastercard debit cards of BOK will be equipped with 3D Secure authentication, conforming to the latest industry standards, ensuring higher security for online transactions, safeguarding customers against unauthorised access and fraud.
BPC will facilitate services through its international processing centre, leveraging its expertise to enable numerous banks with similar functionalities.
“This collaboration with BPC is a testament to our dedication to providing our customers with the most secure and efficient banking solutions,” said Asad Mehmood Siddiqui, Divisional Head Digital Banking at BOK.
“We are pleased to offer our customers enhanced security and peace of mind with these new features.”
The formal agreement was signed in an official ceremony attended by key figures from both institutions. Siddiqui, Furrukh Ali Baig, Managing Director for BPC Pakistan, inked the deal.
BOK is set to launch secure transactions through the introduction of Mastercard debit cards with 3D Secure technology in the new year. The 3D Secure ACS is an authentication protocol that protects online transactions by verifying the identity of cardholders during the payment process.
This partnership will provide BOK’s cardholders with an additional layer of security when making online transactions, ensuring that only authorised cardholders can complete online purchases.
“We are honoured to partner with Bank of Khyber and bring BPC’s cutting-edge eCommerce solutions to them, so they can then serve their esteemed customers in a much more seamless manner,” added Baig.
“This is a significant step in our ongoing efforts to enhance digital transaction security globally and particularly in Pakistan.”
