John Brown
Member
Ant International teams up with AlipayHK and TNG eWallet to form the Digital Wallet Guardian Partnership, aiming to protect cross-border digital payment flows with new security tools and shared best practices. This move addresses rising concerns around fraud, especially account takeover risk, as digital wallets become more central to daily commerce across Asia and beyond.
Tackling Rising Risks in E-Wallet Usage
Asia Pacific is leading global adoption of digital wallets, accounting for nearly two-thirds of global wallet spending valued at about US$9.8 trillion. But with that boom comes risk: 15% of wallet accounts were compromised in 2023, and account takeover fraud rose by 28%, making security a priority for providers.
The Guardian Partnership's goal is to reduce account takeover risk through the Alipay+ EasySafePay 360 solution. This AI-powered tool uses real-time fraud detection, privacy-preserving computing, and dynamic risk modeling. In early trials, EasySafePay reported cut account takeover risk by up to 90%.
Three Pillars of the Partnership
The collaboration will focus on:
- Technology Innovation: joint development and deployment of safety tools using AI, privacy-preserving computing, and advanced analytics to flag and block threats.
- Knowledge Collaboration: sharing emerging threat intelligence, running workshops, and disseminating best practices among wallet operators and stakeholders
- Stakeholder Engagement: running joint awareness campaigns for consumers and merchants to help them detect, avoid, and respond to fraud and risks in digital payments.
For consumers, the partnership aims to enhance trust and convenience:
- A money-back guarantee for unauthorized wallet transactions handled through EasySafePay, with fast AI-based approval processes.
- Better protection during both online and offline transactions including e-commerce, subscriptions, and everyday payments without adding friction.
- Convenient integration via a user portal so wallet operators can respond to security incidents more smoothly.
With Asia's digital payments market growing rapidly, risk exposure becomes more than just a threat—it's a business risk. By combining forces, Ant International, AlipayHK, and TNG eWallet are sending a strong signal that security and trust are foundational, not optional extras. Their joint effort could set new standards for safety in digital wallets globally.
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