GrabPay is arguably one of the largest eWallets in Malaysia. Now a crucial component of Grab’s “SuperApp”, it’s the primary means of racking up GrabRewards points and paying for services. That said, it’s also one of the features that requires the most user information. As such, it comes as a welcomed update that GrabPay is getting more features to ensure data safety. The announcement is a timely given the rise of the number of cyber security incidents in the past week.
The GrabPay eWallet has been enhanced with multi-layer security features. These features are touted to enhance the security of real-time transactions that are done on the platform. As a first layer of defence, GrabPay has been fortified with two factor authentication (2FA). This measure will ensure that logging in is more secured. All users will need to setup their 2FA with a GrabPay PIN. In addition to the PIN, users will also be able to use biometric authentication as well. This means you can use facial recognition and fingerprint authentication on supported devices.
In addition to 2FA, Grab has adopted AI technologies to help with fraud protection. They have implemented machine learning and AI that monitors user account activity. These algorithms will detect any anomalous activity and flag it as potential fraud. Once flagged, it will lockdown the account for further action. Grab is also working with internationally recognised security systems that will also assist and verify detection to ensure that transactions are genuine.
This AI integration is complemented by privacy and security policies. Grab states that any information pertaining to GrabPay transactions is secured. Payment, transaction, credit card and account information are all kept under lock and key. These policies are compliant with the Payment Card Industry Data Security Standard (PCI DSS). GrabPay as a platform is also regulated by Bank Negara Malaysia (BNM).
The last component of their security, according to Grab, is a strong customer service arm. Grab has made information readily available on their Help Center. Grab is touting its Help Center as a key educational tool for users to learn about GrabPay and also self serve solutions for common issues. If the help center isn’t sufficient, users are able to access live customer support through the Grab application.
With these steps and mechanisms in place, Grab is ensuring users that their data and transactions will be private and secure. So, you can use GrabPay with peace of mind.