GrabPay Introduces New Security Enhancements Including 2FA
GrabPay, Grab’s in-app wallet, recently enhanced its safety and security capabilities to safeguard its customers from fraud and security hazards. The improvements are part of Grab’s ongoing efforts and investments to provide users with a safe and secure payment environment.
Grab improves security for GrabPay
GrabPay’s multi-layer security measures will allow Grab users to securely conduct real-time digital transactions on the platform. Two-factor authentication (2FA) using Grab PIN and biometrics is one of the increased safety methods that is advised for all GrabPay users. With the significant movement in consumer preferences toward digital payments in Malaysia – 62% of consumers preferred using e-wallets and 52% preferred real-time payments – these security enhancements will provide consumers with further comfort that GrabPay is a safer method to pay.
GrabPay already has a two-factor authentication function that protects consumers if their phone is stolen. If they haven’t done so already, all GrabPay users must create a six-digit Grab PIN. Users will also have the option to enable additional biometric authentication security measures such as fingerprint or Face ID based on their mobile device settings to further protect their information.
GrabPay has developed and continuously improved many safety and security measures to protect its users from all online and offline transactions since its launch. GrabPay’s numerous layers of protection include:
- Two-Factor Authentication (2FA): All GrabPay users are required to set up two-factor authentication with a six-digit Grab PIN. Users may also enable biometrics authentication via fingerprint or Face ID for added security to protect their GrabPay wallet and information.
- Data Fraud Protection: GrabPay is integrated with a 24/7 fraud detection engine and strong in-house fraud and security team with robust processes and customised algorithms to prevent and detect fraud so as to prevent unauthorised transactions. GrabPay has also partnered with globally recognised security systems with credible fraud detection to ensure only genuine GrabPay transactions go through.
- Privacy and Security: All personal information, payments, and credit card information of GrabPay users are protected and will not be shared or used externally. GrabPay’s data security is also compliant according to the Payment Card Industry Data Security Standard (PCI DSS) which is the most stringent certification available within the payments industry.
- Strong Customer Support: Grab’s Help Center is designed to educate users about GrabPay and help find solutions to any concerns. Consumers can also reach out to Grab’s customer support through the Grab app for immediate assistance.
- Regulated by the government: GrabPay is regulated by Bank Negara Malaysia (BNM) and users’ wallet balances are stored and protected with Grab’s global banking partners.
For further information on GrabPay’s new enhanced security measures, head over to the official website right here.
Pokdepinion: This is good. I use GrabPay quite regularly so this is great news to me and undoubtedly a whole of other GrabPay users.