MoMo implements Decision 2345/QD-NHNN to enhance security in each transaction

From today, May 29, 2024, users can access the MoMo application to update biometrics from chip-embedded ID cards via NFC simply and conveniently in the "My Wallet" section.

From today, users can access the MoMo application to update biometrics from CCCD

In order to enhance the safety of online payment and money transfer transactions in the context of increasingly complex and sophisticated online fraud, the State Bank has issued Decision 2345/QD-NHNN. According to this decision, credit institutions, banks and e-wallets must apply biometric authentication measures for some types of online transactions.

Specifically, online money transfer transactions, e-wallet top-ups over 10 million VND/time; or cumulative over 20 million VND/day; payment transactions over 100 million VND (over one time or over one day); customers using the service for the first time or changing to a new device must authenticate using biometrics matching the data in the chip-embedded CCCD card.

Mr. Nguyen Ba Diep, Co-founder of MoMo, shared: “Applying biometric authentication will help ensure the safety of online payment activities on the banking system and e-wallet, while protecting customers and limiting the risk of fraud in transactions on the Internet. To ensure a smooth experience, we hope that customers will support and soon provide and update biometrics on the MoMo app from today.”

Committed to putting user safety and security first, MoMo has quickly deployed solutions that comply with Decision 2345/QD-NHNN, and applied AI technology to help users update and authenticate biometrics simply and conveniently. MoMo's top priority is to bring users a simple, fast experience, while still ensuring safety, security and helping to protect personal assets to the maximum extent.

Synchronized biometric authentication according to the Ministry of Public Security 's database is an advanced and extremely necessary authentication solution that helps ensure user security, while detecting signs of forgery and fraud and helping increase the reliability of online transactions.

How to update biometrics on MoMo to comply with Decision 2345/QD-NHNN to avoid transaction interruption when applying new regulations from July 1, 2024: Step 1: Log in to MoMo >> "Me" (right corner/bottom of screen); Step 2: Click "Update" (horizontal below avatar) >> Take a photo of the front of the chip-attached ID card; Step 3: Place the chip-attached ID card on the back of the phone (Note: Users find the NFC location and hold it still for about 30 seconds to read the data according to the instructions); Step 4: Verify face, review the information and click "Confirm" to complete.

KIM THANH

Source: https://www.sggp.org.vn/momo-trien-khai-thuc-hien-quyet-dinh-2345qd-nhnn-tang-cuong-an-toan-bao-mat-trong-tung-giao-dich-post742108.html