Touch n’ Go eWallet Will Move Away from SMS OTP Security
In an effort to bolster security there will be a number of changes for Touch n’ Go eWallet, which includes moving away from SMS OTP security.
Touch n’ Go eWallet Making Security Improvements
Touch n’ Go eWallet will be bolstering its security with 5 new strategies which will be implemented by the first quarter of 2023. The first will see the addition of a “more secure authentication method” as it moves away from OTP SMS security. While we’re uncertain what it will be, biometric authentication like face and fingerprint recognition would likely be part of that.
Then, they will be more stringent with fraud detection rules, and will be blocking suspicious transactions as well. Interestingly, Touch n’ Go eWallet will be implementing a verification and cool-off period for new sign-ups. Online transaction authentications will be strictly limited to a single device per account. Lastly, there will be a dedicated customer service hotline by TnG Digital for matters relating to scam and fraud.
These changes are similar to the ones implemented by local banks as mandated by Bank Negara Malaysia, which is interesting to see since it’s not mandatory for ewallets, only banks. At the moment, Touch n’ Go eWallet is the first and only eWallet to implement these changes but we could see its competitors follow suit shortly after.
Pokdepinion: Anything that can be done to improve security is always a welcomed addition. I just hope they don’t slow down after that just because they’ve implemented it since there’s always danger lurking in every corner.
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