Go cashless with GrabPay and enjoy its enhanced safe and secure platform features.
WITH the rapid acceleration of cashless payments, especially since the start of the Covid-19 pandemic, Malaysians are changing the way they make purchases at food and beverage outlets, as well as grocery and convenience stores.
The bullish growth of e-wallets has also seen the mushrooming of apps flooding the market; thus, it is important to choose one that is just right for you, particularly when it comes to the safety and security of your data and payments.
No stranger to the market is GrabPay by Grab, which is not only a licensed payment service provider in multiple Southeast Asian countries, but is also regulated by Bank Negara Malaysia, just like traditional banks.
All transactions on the platform are monitored and risk-managed in accordance with local regulation.
Besides that, Grab continuously enhances its platform with the latest safety and security features for your everyday spending and transactions.
Is your data secure?
Grab has brought convenience to our lives via its e-hailing and food delivery services and seamless payment methods through its GrabPay e-wallet.
To keep GrabPay users safe and enable transactions with greater peace of mind, GrabPay has introduced multiple layers of security to protect users’ wallets and data. It is fully Payment Card Industry Data Security Standard (PCI DSS) 3.2 compliant as a Level 1 Service Provider.
What this means is that it has undergone one of the most stringent levels of certification available within the payments industry, as it is assessed by a third-party qualified security assessor for the Payment Card Industry Security Standards Council.
How Grab protects you from fraud
Your account is protected with a 24/7 fraud detection engine, where Grab's artificial intelligence models make over 20 million real-time risk decisions a day, to ensure that only genuine users and merchants transact on the platform.
This would protect you from frauds and cyber-attacks.
GrabPay users are protected by a multi-layered set of technologies and their functioning can be divided into three components:
> Detection: Its built-in features, advanced algorithms and risk rules flag any suspected or attempted fraud in real-time. This ability is powered by a large volume of data available to the platform, giving it the ability to make precise predictions on possible fraudulent intent.
> Action: What happens next is that the software is able to make immediate decisions based on your risk profile and integrates with the rest of the platform for a structured workflow of those actions. Should the engine identify a fraud driver and decide to suspend the account, it sends this command to the driver suspension service, which would act based on the fraud detection signal.
> Prevention: As the proverb “prevention is better than cure” goes, the engine safeguards against various types of fraud. It does this by triggering preventive interventions through machine learning algorithms and risk rules. If someone is attempting to login to the platform using a reengineered device, for instance, the rules engine may prevent them from accessing certain services on the platform unless the device is deemed to be safe.
All transactions on GrabPay are monitored and risk-managed in accordance with local regulation.
Added security with Grab PIN and biometrics
GrabPay transactions also undergo two-factor-authentication (2FA) with Grab PIN and biometrics for added security.
Grab PIN is a six-digit numeric password that is used to protect your account. Therefore, you should never share your Grab PIN with others.
You should also enable biometrics authentication like fingerprint or FaceID, which are additional security features that cannot be lost, stolen or forgotten.
Setting up Grab PIN and biometrics could help to keep your account more secure, so that if your mobile phone is compromised, your account and funds would still be secured.
Grab shares that keeping you secure on its platform is at the centre of all that it does.
For more information, visit https://www.grab.com/my/pay/
