Ant International and Asian E-Wallets Launch Digital Wallet Guardian Partnership to Strengthen Payment Safety
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 reportedly cut account takeover risk by up to 90%.
Why This Partnership Is Important
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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