Ant International, AlipayHK and TNG eWallet are teaming up to roll out new AI-powered safeguards against fraud and account takeovers as digital wallets handle trillions in payments across Asia.
The three firms have formed the Digital Wallet Guardian Partnership to deploy advanced security tools, share intelligence on evolving threats and run campaigns to help users and merchants prevent scams.
AlipayHK said it is expanding its multi-layered security approach in Hong Kong through 24/7 AI monitoring, customisable protections and regular anti-fraud tips, underscoring the need for innovation to maintain user trust.
Asia Pacific accounts for nearly two-thirds of global digital wallet spending at US$9.8 trillion but also sees 42% of global fraud cases.
In 2023, 15% of wallet accounts were compromised and account takeovers rose 28%.
In its first phase, wallet partners are scheduled to adopt Alipay+ EasySafePay 360, an Ant International-developed tool for both online and offline wallet transactions that cut account takeover risk by 90% in trials.
It uses real-time AI analysis to build dynamic risk models that flag suspicious activity while safeguarding privacy.
EasySafePay also includes a Money-Back Guarantee for unauthorised transactions, with an AI approval process that boosts efficiency by 90% and accuracy above 95%.
The system supports one-click e-commerce and subscription payments without redirection, which Ant International says can improve merchant conversion rates by up to 10%.
Alan Ni, Chief Executive Officer of TNG Digital, shared that
“At TNG Digital, the trust of our 24 million and growing verified (eKYC-ed) users and over 2 million merchants is our greatest asset, and safeguarding that trust is non-negotiable. As TNG eWallet becomes an essential part of everyday life in Malaysia and across the region, this partnership allows us to combine advanced technologies and shared knowledge, to strengthen defences against evolving risks.
By working together, we are not only protecting our users’ money and data, but also ensuring that everyone, from individuals to businesses, can rely on a secure, inclusive and transparent digital economy.”
Tianyi Zhang, General Manager of Risk Management and Cybersecurity at Ant International, said,
“While AI enhances our ability to manage risks, it also introduces new challenges that we must proactively address. Through this partnership, Ant International is dedicated to working closely with our partners to co-develop and share advanced risk-management capabilities.
Together, we aim to stay ahead of emerging threats, making digital wallet more secure, so as to drive growth in global travel and commerce.”
Featured image: Edited by Fintech News Singapore, based on image by luckystep via Freepik
