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YouTrip Thailand launches FinTech app to secure digital payments

By Gloria Mathias

July 18, 2023

  • Consumer Fraud Risk
  • Digital Financial Technology Services
  • DIGITAL PAYMENT APAC
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YouTrip, Singapore, Thailand, FinTech, Technology, Fraud Management, Diital Payments YouTrip, a Thailand-based multi-currency digital wallet, has collaborated with Kasikornbank, introducing 3-Domain Secure 2.0 (3DS 2.0) authentication feature to offer users a secure digital payment experience.

As the platform has integrated the 3DS 2.0 technology into the app, this re-emphasises YouTrip’s commitment to making digital payment experiences safer, smarter, and more convenient.

Juthasree Kuvinichkul, Founding Partner of YouTrip Thailand said, “Seeing the upward growth in YouTrip transactions on local and overseas online merchants, the 3DS 2.0 introduced to our digital wallet will serve as an additional layer of security to reduce fraudulent activities in online transactions.”

“The 3DS 2.0 prompts users to authenticate their purchases seamlessly through the app instead of a SMS One-Time password, which is riskier due to the increasing phishing scams, allowing users to make online purchases with an ease of mind,” added Kuvinichkul.

Users will be prompted to authorise their online payment through their YouTrip app. It provides them greater control over the transactions made as users would be able to go through the transaction amount and merchant information before authenticating the payment.

The in-app verification process also allows users who are travelling to enjoy a seamless experience as the authentication process is done via the app and not through the SMS OTP which they may not be able to access when they are overseas.

The 3DS 2.0 technology can better determine if the purchase is actually made by the user and serve as a fraud detection tool to identify fraudulent transactions. With risk assessment processing, 3DS 2.0 provides a more robust risk-based authentication to screen online merchants, allowing users to shop securely.

 

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