Malaysia’s TNG Digital has announced a partnership with Ant International and Hong Kong-based AlipayHK called the Digital Wallet Guardian Partnership. The goal of this partnership is to improve the security of global digital wallet payments as more people start using wallets like TNG eWallet.
The partnership will focus on developing safety solutions using AI and other advanced technologies. The companies will also share information on risk patterns, trends, and best practices.
The firms will run joint awareness campaigns to educate users and stakeholders about digital wallet security.
As part of the partnership, TNG eWallet will use Alipay+ EasySafePay 360, an AI-powered service that protects both online and offline transactions. It also helps prevent account takeovers and other fraud.
Users of TNG eWallet can receive full compensation for any unauthorized transactions through EasySafePay’s Money-Back Guarantee system.
With digital wallets becoming widely used in Asia, the region has become a major target for fraud, accounting for 42% of cases. In 2023, 15% of e-wallet accounts were compromised, and with more incidents of account takeover fraud, ensuring safety and security has become a top priority.
The CEO of TNG Digital said the company can use advanced technologies and shared knowledge to better protect users against new and evolving risks.
He added that, beyond protecting users’ money and data, the company aims to create a secure, inclusive, and transparent digital economy that everyone can trust.
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