Tieto has helped Raiffeisen Bank dd Bosna i Hecegovina to become the first bank in Bosnia and Herzegovina to offer their customers E-Commerce and 3-D Secure acquiring services.
With Tieto Card Suite solution Raiffeisen Bank dd Bosna i Hecegovina provides added value to its merchants by reducing the number of fraudulent user chargeback cases, representing the highest proportion of chargebacks in the Internet environment, as well as the opportunity to increase sales and decrease disputed transactions.
"For customers the implemented solution brings safety, which consequently leads to increased sales and general card brand promotion. Merchants feel more secure allowing enhanced card acceptance in international transactions and the development of card business. 3-D Secure option also increases the likelihood of the physical card presence during a transaction, thus leading to reduction of fraud-related issues," says Maris Ozolins, Director of Cards, Tieto.
Tieto Card Suite E-Commerce, based on 3-D Secure protocol, allows decreasing loses of online card transactions. It is ideally suited to the bank business model. The solution meets all industry requirements for security, is easily implemented and requires no additional maintenance costs for the bank. The 3-D model enables secure and flexible communication between parties involved in a payment transaction, but not previously known to each other.
Karlheinz Dobnigg, Vice-Chairman of the Management Board of Raiffeisen Bank dd Bosna i Hercegovina: "The image that Raiffeisen Bank has cultivated for years in Bosnia and Herzegovina and the region has naturally created an obligation for us to act as a pioneer in this area of electronic banking as well. Our cooperation with Tieto in the project of launching our new "Raiffeisen e-pay" service has enabled us to offer the market a safe way of online sales, while increasing the trust placed in us by online buyers and the merchants we cooperate with".
The implemented solution has successfully undergone Verified by Visa and MasterCard SecureCode certifications and allows Raiffeisen Bank to extend its customer base internationally.
Raiffeisen Bank Bosna i Hercegovina has been Tieto's customer since 2006 and continues to grow and develop their business by implementing new and innovative Card Suite solutions.