Maldives Islamic Bank (MIB) has launched its new online payment gateway called MIB Global Pay. The MIB Global Pay uses the Mastercard Payment Gateway Services and will accept e-commerce payments from international card schemes, stated the bank.
MIB detailed that the payment gateway has a 99.95% up-time, with global accessibility and easy deployment integration. The bank stated it is also equipped with features such as Tokenisation, which provides the most secure form of customer card storage while also reducing compliance requirements, resulting in merchants being able to acquire e-commerce transactions quicker and at a lesser cost of compliance.
Furthermore, MIB Global Pay includes the feature of recurring payment which allows merchants to schedule payments on a regular basis without re-entering the card details each time. The gateway also comes equipped with a merchant portal, giving full control and on-demand customised reporting. MIB Global Pay comes in three integration methods to cater to businesses that require various levels of control, customization, and compliance requirements, stated MIB.
The three methods are direct payment for large-scale merchants, hosted checkouts for local markets, and hosted sessions. MIB stated its new online payment gateway is an opportunity for merchants to expand their digital footprint or provide innovative services.