Touch ‘n Go eWallet Implements Mandatory Security Measures to Combat Scams
Touch ‘n Go eWallet, Malaysia’s leading eWallet provider, has announced the successful implementation of all five mandatory safety and security measures required by Bank Negara Malaysia to combat scams. This move places them ahead of other eWallets and banks in Malaysia in terms of implementing these measures and protecting its users against scams. In this article, we’ll take a closer look at these mandatory security measures and their benefits.
How Touch ‘n Go eWallet’s TapSecure Feature Enhances User Security
The five mandatory safety and security measures include the migration from using a SMS one-time password (OTP) to a more secure authentication method, face verification as a method of authentication, tightening of fraud detection rules and triggers, one-device restriction for electronic banking transactions, and a verification and cooling-off period for first-time enrolment of services.
Touch ‘n Go eWallet has introduced TapSecure as a mandatory one-tap approval function to authenticate users’ transactions. The TapSecure approval ensures that only a user’s linked device can be used for the approval of transactions within the user’s eWallet account. In addition, Touch ‘n Go eWallet has established a dedicated customer service channel or hotline for incident reports and suspicions of scams and fraud.
As Touch ‘n Go eWallet continues to grow, our users remain our largest asset. With the increasing rise of financial scams and security breaches involving eWallet and bank transactions, keeping our users’ online accounts safe and secure has become our primary concern.
Alan Ni, CEO of TNG Digital Sdn Bhd
Touch ‘n Go eWallet was recently awarded the Platinum Award under the e-Commerce category at the Putra Brand Awards 2022 and was also recognized as the Best eWallet in Malaysia at the 16th Annual Alpha Southeast Asia Best FI Awards 2022. These awards highlight the company’s commitment to transforming Malaysia into a cashless society and bringing financial inclusion to all.
The implementation of these mandatory security measures demonstrates its commitment to protecting its users’ online accounts and providing a safe and secure platform for transactions. Users can visit the company’s website to learn more about these safety and security measures.
Pokdepinion: It’s a great, necessary move to ensure that every consumer is well protected. The convenience of such a thing is typically prone to a lot of issues like theft and hacks, so any improvement is certainly needed, not just now but also moving forward.