Bank Alfalah and MasterCard recently signed an agreement to bring MasterCard Internet Gateway System (MIGS) to Pakistan. The system connects online merchants and websites with customers by accepting credit cards on the internet.
This partnership is of great significance as it brings together Pakistan’s leading card services provider, Bank Alfalah and MasterCard’s expertise and technology.
The bank says it continues to develop a world class payments eco system in Pakistan that creates value and convenience for customers, merchants, and partners. Bank Alfalah will leverage its flagship merchant acquiring business to develop the e-commerce space through MIGS in the country.
MIGS is a payment gateway system that allows banks to accept card not present transactions. MiGS, which is sold by MasterCard, is PCI-DSS-compliant and is typically branded and priced by the acquiring bank. It is used to interconnect online merchants to their acquiring banks through standards-compliant technology and API (Virtual Payment Client). This payment gateway provides support for services such as “MasterCard SecureCode”, “Verified by Visa” and “JCB J/Secure”.
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