Applying AI technology to ensure transaction security

Within the framework of the Cashless Day 2024 event series taking place from June 14-16, 2024 in Ho Chi Minh City, NAPAS leaders participated in the workshop "Improving security and safety of cashless transactions". With the presentation "Application of AI technology to ensure safety of online payment transactions", NAPAS leaders introduced the technology of authenticating online payment transactions using NAPAS cards, helping to improve user experience and increase safety and security of online transactions.

Opening the discussion, Mr. Nguyen Dang Hung, Deputy General Director of NAPAS, mentioned the scale and development potential of e-commerce in Vietnam.

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Mr. Nguyen Dang Hung - Deputy General Director of NAPAS presented a speech at the workshop

“Nearly 20 years ago, when NAPAS launched online airline ticket sales on the websites of airlines such as Vietnamailines and Pacific, customers had to use a web browser on a computer (PC) to make transactions. Up to now, we can see a trend of e-commerce sites supporting the use of PC browsers on mobile phones. In fact, most customers now transact on e-commerce sales platforms via separate applications on smartphones,” said Mr. Hung.

Referring to the customer authentication process, according to Mr. Hung, previously banks used authentication solutions using one-time passwords (OTP), in some cases banks required additional layers of authentication. It is worth mentioning that these authentication layers will directly impact the seamless experience of customers.

The 3D secure online transaction authentication solution for domestic cards being deployed by NAPAS will help balance safety, security and convenience for customers.

The solution supports modern biometric authentication methods (fingerprint, facial recognition) and AI-based fraud risk assessment to customize additional verification requirements, minimizing the risk of fraud in customers' online transactions.

Through the exchange of much larger transaction data than before, banks can know information about devices, transaction locations, transaction values, etc., and then analyze them with previously recorded historical data to analyze and assess risks, thereby making decisions on choosing the appropriate customer authentication method, bringing a better payment experience to customers.

It can be seen that, compared to the previous authentication process which was less flexible and often required users to enter OTP codes, the 3D Secure online payment transaction authentication solution provides a seamless experience for users, enhances safety and security in online payments, and supports increased e-commerce sales of sales units. In particular, payment service providers can integrate the solution on many different platforms, including websites and applications on mobile devices.

As a national retail payment infrastructure provider, NAPAS's payment gateway has connected with 44 banks and financial companies, 46 payment intermediaries, connected with the National Public Service Portal and VNeID application, allowing people to choose a variety of convenient and fast online public service payment methods.

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NAPAS leadership representative received the program's commemorative medal

Payment technology via facial recognition

Also in the Cashless Festival event taking place from June 14-16, 2024 on Nguyen Hue Street, Ho Chi Minh City, NAPAS coordinated with PVcombank to organize an experience of biometric payment technology - a payment method based on authentication technology using user's facial recognition.

Customers only need to “smile” while scanning facial recognition to quickly complete payment transactions from their account (Pay with a smile).

The identification is conducted based on the user's face stored in the banking system and will be matched with the security factors on the chip-embedded citizen identification card issued by the Ministry of Public Security . Artificial intelligence (AI) technology is integrated to assess the risk of forgery, helping to minimize the risk of losing money and fraud in transactions.

Thu Loan