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Description of Services

BANCNET INTERNET PAYMENT GATEWAY

BancNet, Inc. is the Philippines largest ATM Consortium with 48 member banks and subscribers, more than 6 million active debit cardholders and over 2,000 ATMs nationwide. Established in July 1990, BancNet has diversified its products and services to remain as the leading electronic network for the delivery of financial and related services for its member institutions, affiliates and customers.

BancNet Operational Highlights

• 53 Member Banks and Subscribers
• 1 Affiliate Switch Network
• 7 Million Cardholders
• 2,747 ATMs
• 529,378 Ave. Daily Trans.
• 7,674 POS Terminals
• 1,685 Merchant Sites
• 72 Biller Institutions

BANCNET’s Online Payment Gateway
BANCNET Multi-Channel Payment Gateway enables business establishments to extend their business to the online marketplace. It allows clients to securely capture and process payment transactions in a real-time, on-line environment.

Benefits to Merchant

• Accept customers and online payments at your online store 24 x 7
• Access to over 5 million BancNet Cardholders
• Reduction in cash handling related expenses

Benefits to Customers of Website

BANCNET ONLINE PAYMENT GATEWAY

Brief Description
BANCNET’s Online Payment Gateway provides a facility that enables merchants and businesses to accept payments on their website. Simple and secure, your customers can transact using their Debit cards from BancNet member banks in the Philippines anytime, online.

How it Works

Key Advantages for Merchants

• Reduction in cash handling related expenses
• Provision for daily electronic consolidated reports
• Minimized cash handling problems like shortages
• Minimized risk compared to credit card transactions
• Increased security because less cash is handled by personnel
• Minimized erroneous data entry due to electronic reporting
• Availability of consolidated reports generated by BancNet and transmitted to the merchants thru electronic file transfer
• Faster collection of payments compared to conventional payments using cash or check (payments automatically credited to Merchant’s account the following day)
• Faster and easier posting of payments to the merchant’s records compared to the traditional manual posting method

Security Features

BancNet has ensured that its Online Payment Gateway is fully secure. Several layers of security mechanisms have been put in place which includes:

1. Physical Access Controls
2. Network – level Security
1. Firewalls
2. Intrusion Detection
3. Confidentiality and Message Integrity
1. Authentication at Browser/ Client side
2. Authentication at Merchant Site
3. Authentication at BancNet Server side
4. Authentication at Bank side
4. Application Controls
1. Limited PIN retries
2. Transaction Amount Limit set by Bank
3. Transaction Frequency
4. Merchant Spike Monitoring
5. Charge-back Count
6. Audit Trail
7. Dynamic PIN pad
5. 1024-bit RSA PIN Encryption
• For debit card payment, input of PIN is secured with 1024-bit RSA encryption prior to sending data to the payment gateway.
• Customers are required to enter their PIN for every transaction. PIN is not stored in any of the nodes (the client’s PC, merchant server or any of the BancNet servers).
• The onscreen PIN pad provides additional security by dynamically rearranging the number sequence for each session. The keypress has been suppressed and the button font and colors have been tuned to effectively combat instances of shoulder surfing

6. SSL Encryption
7. Global Secure ID by Verisign
8. Proprietary Digital Certificates
9. Additional Encryption and Security Measures

Solution Components

BancNet Despository Bank
The BancNet Depository Bank will provide the following:

• credit the account of merchant for the payments and collections of cardholders from the other BancNet Member Banks
• handle the settlement between BancNet the merchant and other networks, if any
• provide merchant with a Statement of Account based on an agreed schedule to show the amounts credited or
debited for review and reconciliation purposes
• Management of Merchant Relationship
• Customer Complaint handling

BANCNET, INC
BancNet will provide the following:

• Online Payment Gateway infrastructure
• Network switch operation
• Network monitoring of service levels
• Consolidation of reports

Solution Investment Single / Direct Merchant