Firstly, your authentication details are being stored encrypted as per industry standards.
User privacy and security is of the utmost importance to us. We are compliant to BNM requirement on the secrecy provision under Section 133 of the Financial Services Act 2013 and Personal Data Protection Act 2010.
To enable Auto reload or Reload using favourite debit/credit card, the user undergoes 3DS validation upon first-time card binding. This is sufficient to validate that the card binding is done by the cardholder. For subsequent transactions, there will be no more 3DS validation as part of our effort to provide a better customer experience. We have highlighted these mechanics to BNM and we did not receive any objection from BNM to proceed.
Also, we are pleased to inform you that we have enhanced our security features by introducing Money-back Guarantee launched on 17th June 2019. Money-back Guarantee is a protection feature in the Touch ‘n Go eWallet, that in the unlikely event an unauthorised transaction is made on the user’s eWallet account, we will refund the disputed amount, provided that the requirements under the Terms & Conditions of the Money-back Guarantee is met.
Our Money-back Guarantee promises full compensation within 5 days if your TNG eWallet is being charged with unauthorised purchases or reload. Our enhanced security features protect you from any risk of losing your eWallet balances through unauthorised transactions:
- Artificial Intelligence & Machine Learning - Track and analyse data to detect and prevent unauthorised transactions
- Human Intervention - Dedicated risk team for further monitoring and strengthening the backend security system